APN Outdoor Group Ltd [ASX:APO] is an Aussie outdoor advertisement company.
You’ll see their advertisements frequently driving on the freeway. They offer advertisement space on billboard, in shopping centres and other local spaces.
This morning, APN opened up 1.96%, to $5.73, but quickly ran down to $5.60.
What happened to the APN Outdoor Group share price?
oOh!Media Ltd [ASX:OML] competes with APN in the advertisement space. They offer the same service. But instead of competing with each other, the companies have decided to merge. Before a merger can happen, they need the go-ahead from the Australian Competition and Consumer Commission (ACCC).
The ACCC ensures individual companies don’t become too influential in any one industry by gaining a monopoly.
The ACCC rescheduled the date of their decision on APN and OML’s proposed merger. As a result, OHL shareholders will be left hanging until late May.
What now for APN Outdoor Group?
APN and OML are confident that the merger will not hurt competition in the outdoor advertisement industry. Both continue to believe strongly in the long-term growth and value opportunities of the merger.
Investors will know the ACCC’s decision about the proposed merger on 4 May.
Junior Analyst, Money Morning
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