The Aussie HQ of outdoor media behemoth oOh!media has not given up on its quest for Adshel, offering almost half-a-billion Australian dollars to acquire the rival company.
The move was revealed in a statement to oOh!media shareholders in Sydney yesfcbd hß©†˜ß g offer on Monday 30 April parent Here, There & Everywhere (HT&E), valuing Adshel at A$470 million.
“Although the improved indicative offer has not to date been accepted by HT&E, OML remains ready to proceed with a period of exclusivity to undertake due diligence which may permit OML to submit a binding offer to Adshel,” the release said.
“There is no certainty that the improved indicative offer will result in a transaction.”
The announcement comes after HT&E has advised shareholders last week that it was not aware of any discussions regarding a takeover bid for the company.
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