Federal Court of Australia Approves JCDecaux/APN Outdoor Merger

The Federal Court of Australia has approved JCDecaux’s takeover of digital-out-of-home media company APN Outdoor. Following a meeting with shareholders on October 15th, shares in the company ceased trading on the 18th and the transaction is expected to be completed by the 31st.

JCD first entered its bid to take over APN back in June. APN CEO James Warburton has announced he will step down from his role, with former head of JCD Australia Steve O’Connor taking his place.