Tag: APO

APN Outdoor Group has given in and accepted a takeover offer from French outdoor group, JCDecaux (JCD) worth $1.119 billion.

A surprise and highly condition $1.1 billion takeover offer for from French group, JCDecaux for APN Outdoor emerged yesterday and investors wondered if it was a serious offer, or just some sort of business play.

APN Outdoor shares plunged more than 38% at one stage yesterday, despite lifting interim profit 51%. The company, a spin off from APN News and Media, saw its shares belted lower after investors were disappointed by a lowered outlook for the six months to December (the company has a calendar financial year).