Blackstone Abandons €2.5 Billion Stroeer Bid, Exiting I Squared Investor Group
Updated
Updated · Bloomberg · May 19
Blackstone Abandons €2.5 Billion Stroeer Bid, Exiting I Squared Investor Group
1 articles · Updated · Bloomberg · May 19
Blackstone has dropped out of the investor group with I Squared that had been exploring a takeover of Germany’s Stroeer, according to people familiar with the matter.
The move effectively ends Blackstone’s pursuit of a deal valued at about €2.5 billion for the media company, whose businesses include billboard advertising.
Stroeer had drawn interest as a German media and outdoor-advertising target, but the latest development leaves I Squared without Blackstone in the buyout effort.
After two failed takeovers, can German media giant Stroeer fund its ambitious AI transformation alone?
Is Blackstone's pivot from media to AI a sign of where the smart money is now headed?