Focus Media LBO Offer: Betting On The Timing Rather Than The Outcome Of The Proposed Deal

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>>Focus Media (FMCN) is the dominant advertising-display agency in China, operating approximately 170,000 flat-panel displays in about 90,000 buildings all over 90 Chinese cities.
The company recently received a $3.1 billion buyout offer backed by the company chairman and several key investors like Citic Capital Partners (a company associated with CITIC Group, synonymous of the Chinese sovereign wealth fund), FountainVest Partners (lead by Frank Tang, who used to head China investments for Temasek, the Singapore Sovereign Wealth Fund) and private-equity giant Carlyle. The company's largest shareholder, Fosun International, seems supportive of the deal.