Digital billboard maker XTD cancels its acquisition of mobile ad start-up Contact Light amid consolidation of Australia’s out-of-home advertising sector (Stock Head)
The all-scrip deal was priced at 4c per share and would have valued Contact Light at about $7 million. XTD was valued at $4 million based on its 3c Friday closing price. A wave of merger and acqusition activity has washed through the out-of-home sector recently with the top four players consolidating into two via JCDecaux’s takeover of APN Outdoor and oOh!media’s acquisition of Adshel. […]
Mon, Jul 30, 2018 at 7:11 AM