HT&E Ltd share price zooms as oOh!Media Ltd make play for Adshel

Credit: Franciso Diez

News and media company HT&E Ltd (ASX: HT1) has rejected a bid by oOh!Media Ltd (ASX: OML) to sell off its street furniture advertising brand Adshel.

Shares in HT&E stormed up 7.9% to $2.03 at the time of writing as the HT&E board today announced the oOh!Media Ltd offer “did not reflect value for shareholders”.

HT&E’s Adshel division pitched in $199.8 million in revenue for the FY17 according to results handed down in February 2018 so it is unlikely HT&E will offload it without a pretty sweet deal on offer.

HT&E has sported a lower share price for some time as media stocks have struggled across the board, with its share price dropping 21% from $2.60 at this time last year taking into account the huge rise today.

Morgans this week upgraded FY19 guidance for outdoor advertising competitor APN Outdoor Group Ltd (ASX: APO), with a price target of $4.86 on the stock which was down 0.9% to $5.01 at the time of writing.

Online advertising cousins REA Group Limited (ASX: REA) and Domain Holdings Australia Ltd (ASX: DHG) struggled to book gains with REA Group shares down 0.2% to $76.64 and Domain also down 0.3% to $3.05 today.

At The Motley Fool we’ve been scrutinising the ASX to uncover the kinds of companies that we believe could turn into the next Cochlear or REA Group.

Check out the Revolutionary Aussie Companies to Back for 2018 here

We’re living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

We’ve found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!


Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has recommended REA Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.