Outdoor media group QMS is reportedly under a takeover offer from Quadrant Private Equity.
The ASX-listed company went into a trading halt later Friday "pending the release of an announcement in relation to recent media speculation".
The AFR's Street Talk says Quadrant, an Australian-based private equity house, has a board-recommended deal to buy the digital signage and sports advertising specialist.
The Australian newspaper reported Friday: "It is believed Quadrant Private Equity is working towards a deal to buy the business, which could be closed within days, but it is not clear whether the firm plans to buy the entire company or one of its divisions."
An offer around $1.10 a share would value QMS at more than $500 million. QMS shares last traded at $1, a 12-month high.
Quadrant has experience with out of home advertising business. It owned APN Outdoor before listing it on the ASX. Last year French multinational JCDecaux bought APN Outdoor for $1.2 billion.
QMS has been a stand out for growth in a soft advertising market.
The company in August reported a 65% rise to $16.5 million in first half net profit after tax. Revenue was up 23% to $128.9 million.
QMS expects second half media revenue to be 15% to 20% up on the same time last year.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.