Deals

JCDecaux Is Said Advancing APN Talks for Major Australian Boost

French company bid last week to buy APN for A$1.1 billion
Path to successful bid eased by Ooh!media’s deal to buy Adshel

JC Decaux As They Post Advertising Campaigns On Billboards — Photographer: Fabrice Dimier/Bloomberg

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By Brett Foley and Angelina Rascouet

June 25, 2018 at 7:57 AM UTC

Updated on

June 25, 2018 at 10:58 AM UTC

This article is for subscribers only.

JCDecaux SA is in talks with Australian billboard specialist APN Outdoor Group Ltd. about a richer offer than the French outdoor advertising company’s initial A$1.1 billion ($815 million) takeover bid for APN, according to a person familiar with the matter.

Talks between JCDecaux and APN picked up over the weekend after APN was beat by Ooh!media Ltd. in its takeover attempt for Adshel Street Furniture Pty Ltd., said the person, who asked not to be identified as the talks are private. APN is pushing for a price higher than the A$6.52 per share offered last week by JCDecaux, the person said.