APN Outdoor Group Ltd Drops on ACCC’s Schedule

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.

Regards,

Härje Ronngard,
Junior Analyst, Money Morning

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Harje Ronngard is a Junior Analyst at Markets and Money. With an academic background in finance and investments, Harje knows how simple, yet difficult investing can be. He has worked with a range of assets classes, from futures to equities. But he’s found his niche in equity valuation. It’s not good enough to be right on average when it comes to investing. The market is volatile and it only takes one bad day to ruin your portfolio. You don’t want to end up like the six foot man that drowned in the river that was five foot deep on average. It’s why Harje is constantly reminding investors of their downside risk here at Markets and Money. He does so by simply asking just two questions.  What is it worth? And how much does it cost? These two questions alone open up a world of investment opportunities which Harje shares with Markets and Money readers. Right now Harje is focused on managing research and investments over at the Legacy Portfolio. An investment publication designed to significantly grow investor’s wealth over time with deeply undervalued businesses. Harje also contributes his insights in Total Income, headed by income specialist Matt Hibbard. Harje loves cash-rich businesses, so he feels right at home amongst Matt’s high yielding income plays.


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