Source: Thinkstock
The transaction values Focus Media at approximately $3.7 billion, and is higher than the original offer of $27 per ADS that came in August.
Focus Media is China’s largest digital display advertiser, and competes in China with AirMedia Group Inc. (NASDAQ: AMCN). Focus Media is about the same size as US outdoor media firm Lamar Advertising Co. (NASDAQ: LAMR).
The buyout offer is coming from firms associated with The Carlyle Group LP (NASDAQ: CG) and others, including Jiang, who now controls 35.5% of Focus Media.
Shares of Focus Media are up 7% at $25.59 in a 52-week range of $16.80 to $30.08.
Paul Ausick
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