French outdoor advertising giant JCDecaux has lobbed a $1.1 billion proposal for APN Outdoor which is in the midst of its own $500 million bid for Here, There & Everywhere's street furniture business Adshel.
Late on Wednesday, JCDecaux, which has appointed Goldman Sachs as its advisor, submitted an indicative non-binding proposal to acquire 100 per cent of APN Outdoor at $6.52 per share. The Australian-listed company's shares closed the day at $5.85.
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Max Mason covers financial crime, courts and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
