The battle for Adshel, the out-of-home advertising business owned by HT&E Ltd (ASX: HT1) took another dramatic twist over the weekend after oOh!Media Ltd (ASX: OML) submitted a $550 million all cash offer for Adshel.
That’s according to the Australian Financial Review which also reported that oOh!Media Ltd will engage Macquarie Capital which is part of Macquarie Group Ltd (ASX: MQG) to launch a rights issue to fund the purchase.
Competitor APN Outdoor Group Ltd (ASX: APO) which itself is subject to a $1.1 billion takeover offer from French advertising giant JCDecaux, has also bid for Adshel.
This won’t be the last time we hear this story as the advertising industry continues to consolidate.
While the advertising industry is going through an acquisition frenzy, you might need to consider some acquisitions of your own. Our team of experts have identified these 4 shares as some of the best shares to buy right now!
Renowned investor Scott Phillips just released a brand-new report detailing his 4 favourite stocks to buy right now.
And I don’t know about you, but I always pay attention when some of the best investors in the world give me a stock tip.
This is your chance to get in at the very beginning of what could prove to be very special investments.
You can find Kevin on Twitter @KevinGandiya.
The Motley Fool Australia has no position in any of the stocks mentioned. 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.