Ooh!Media has confirmed it has returned with an improved $470 million bid to acquire street furniture outdoor company Adshel.
Ooh!Media's initial offer is believed that have valued the business between $400 million to $450 million.
In an effort to end media speculation, Ooh!Media told the Australian Stock Exchange that it was in negotiations with Adshel's parent company HT&E about a non-binding indicative cash offer for Adshel.
The offer has not been accepted by HT&E, and Ooh!Media says it is ready to begin due diligence and present a binding offer if given the green light.
Adshel business comprises 3,000 digital advertising screens, 18,000 touch points, 13,000 street furniture signs and 2,000 panels.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.