What are the key details of the takeover bids for oOh!media (ASX:OML)?

The outdoor advertising group oOh!media has received revised, non-binding takeover proposals valuing the company at up to $850 million, or up to $1.60 per share. This represents a significant price bump from initial unsolicited offers.

Who is currently bidding to acquire oOh!media (ASX:OML)?

Three major investment firms are competing for control of the company: Pacific Equity Partners, I Squared Capital, and Oaktree Capital Management. While Pacific Equity Partners and I Squared Capital made the initial baseline approaches, Oaktree Capital Management joined the race during the preliminary due diligence round.

Why did the oOh!media (ASX:OML) board reject the initial takeover offers?

The board knocked back the initial unsolicited proposals because it believed they materially undervalued the core out-of-home media business. The first offers sat at $1.40 per share from Pacific Equity Partners and $1.45 per share from I Squared Capital.

What is the immediate next step in the oOh!media (ASX:OML) takeover process?

In response to the sweetened $1.60 per share terms, oOh!media will grant detailed due diligence access to selected bidding parties over the next six weeks. This deeper access allows suitors to thoroughly inspect the company's financial books and operations.

Is a final acquisition guaranteed for oOh!media (ASX:OML) shareholders?

No, a transaction is not guaranteed. The current proposals are indicative, non-binding, and highly conditional. The company has explicitly cautioned shareholders that there is no certainty the ongoing six-week due diligence process will result in a binding offer or a final deal.

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ASX-listed oOh!media bids surge to $850M

Written by Isaac FrancisPublished Jun 15, 2026, 12:08 AM

The battle for control of oOh!media (ASX:OML) has intensified after the outdoor advertising group received revised indicative takeover proposals mapping out a valuation of up to $850 million.

The updated offers price the out-of-home media specialist at up to $1.60 per share, marking a premium over initial expressions of interest.

According to a company statement, oOh!media previously knocked back unsolicited, non-binding offers of $1.40 per share from Pacific Equity Partners and $1.45 per share from I Squared Capital.

The board fiercely rejected both of those baseline approaches on the grounds that they materially undervalued the core business.

However, corporate interest has surged following an intensive three-week due diligence phase.

Revised proposals have now landed on the table from Pacific Equity Partners, I Squared Capital, and a third major player, Oaktree Capital Management.

Market sources confirm that several of these competing bids have now converged at the higher $1.60 per share threshold, forcing the board's hand to open the books further.

In response to the sweetened terms, oOh!media announced it will now grant detailed due diligence access to selected parties over the next six weeks to flush out a definitive outcome.

ASX-listed oOh!media bids surge to $850M

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