APN AND oOh!media MERGER CALLED OFF, CEO 'AMAZED' AT ACCC'S DECISION
19 May 2017, Written by Paris Faint
THE PROPOSED $1.6 billion merger between Australia's two largest advertising groups, APN (ASX: APO) and oOh!media (ASX: OML) has been called off this morning, amid concerns the agreement would wash out competition in the out-of-home advertising industry.
"So we don't agree with the ACCC position, but don't want to spend six to 12 months educating the ACCC or in court, especially as the media market is changing so quickly - hence our mutual decision."
Author: Paris Faint