Outdoor advertising company Maiden is facing problems in finding a suitable take-over offer. Bids for the firm are due to be in at the end of the week, but industry insiders seem sceptical that a buyer will emerge.
According to a report in
The Guardian, the investment bank running the sale, NM Rothschild, has given the six interested groups until Friday to make a definite offer.
Maiden, the UK’s fourth largest advertising company, was put up for sale in December after breaking its bank convents.
Spanish firm Cemusa and Viacom Outdoor look the most likely to make an offer, with other interested parties including US firm Titan Outdoor and private equity firms.
French advertising company, JC Decaux has ruled itself out of bidding for Maiden, saying that some of Maiden’s billboard contracts were “far too expensive”.
Earlier this year, Viacom Outdoor expanded its national rail business, winning the FirstGroup plc contract from Maiden Outdoor (see Viacom Outdoor Wins Rail Contract From Maiden).
The new contracts will see Viacom Outdoor manage all poster sites at stations operated by First Great Western and First Capital Connect, franchises of FirstGroup, giving an increased presence for Viacom within London, the West Country and the M4 corridor.
Viacom Outdoor’s share of the UK rail market will increase to almost a third, excluding its London Underground contract, as a result of the FirstGroup contract.
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