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.
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