May 18, 2017 / 11:23 PM / 7 months ago

Australian billboard firms scrap $545 mln takeover on regulator worries

SYDNEY, May 19 (Reuters) - Australia’s two biggest billboard companies on Friday called off a deal in which APN Outdoor Group Ltd would buy rival oOh!media Ltd for A$735 million ($544.93 million), after the antitrust regulator raised concerns.

The companies said in a statement that they disagreed with the view that a tie-up would harm competition but that regulatory invervention “represents an unacceptable risk to a successful merger”. ($1 = 1.3488 Australian dollars) (Reporting by Byron Kaye; Editing by Stephen Coates)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below