June 20, 2018 / 10:42 PM / a month ago

Australia's APN Outdoor Group receives $803 mln takeover offer from France's JCDecaux

June 21 (Reuters) - Australia’s APN Outdoor Group Limited said on Thursday it received a A$1.09 billion ($803.00 million) or A$6.52 per share, takeover offer from French advertising company JCDecaux, and said it had commenced an assessment of the offer.

The JCDecaux offer is at a 11.5 percent premium to the closing level of APN shares on Wednesday.

The French firm had said on Wednesday it had submitted an indicative and non-binding offer to buy APN.

$1 = 1.3574 Australian dollars Reporting By Rushil Dutta in Bengaluru; editing by Diane Craft

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