Renewed talks over a potential takeover of Ströer: according to Bloomberg, the German media company is once again in discussions with investor I Squared, which is planning to submit an offer together with Blackstone.
Ströer Takeover: I Squared, Blackstone Prepare New Bid
I Squared Capital is working on a new takeover bid for Ströer – this time in partnership with Blackstone. Together, the investors aim to take Ströer’s out-of-home (OoH) business private. In recent weeks, discussions have taken place between the parties, according to a Bloomberg report citing sources familiar with the matter.
This marks I Squared’s second attempt to table an offer. Last year, the private equity firm had been working with another investor group on a potential acquisition of Ströer but ultimately did not proceed with a bid. Blackstone is now expected to back a renewed approach which, according to Bloomberg, could target not only the OoH division but also the company’s digital content business.
Ströer’s shares came under some pressure following I Squared’s most recent withdrawal. The company currently has a market capitalization of around €1.9 billion. Market experts estimate the value of Ströer’s OoH segment at approximately €3.5 billion.