Platinum Equity makes irrevocable binding offer of $225M for CBS

theflyonthewall.com

Platinum Equity and CBS (CBS.A, CBS) announced that an affiliate of Platinum Equity has made an irrevocable binding offer to acquire the assets of CBS Outdoor International. The proposed transaction represents a total value of approximately $225M and is subject to completion of works council consultation and other conditions. CBSO International is a leading outdoor media company and is among the largest out-of-home media and billboard businesses in Europe, providing custom media solutions to outdoor advertising agencies and direct clients in the United Kingdom, Ireland, France, Italy, the Netherlands, Spain and China. Platinum Equity Chairman and CEO Tom Gores said he is very pleased to work with CBS on this transaction.

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