Ooh!media accepts $1.04B takeover offer

• oOh!media entered into a binding scheme implementation agreement to be acquired by I Squared Capital for $1.04 billion in enterprise value.
• Shareholders are slated to receive total cash consideration of $1.70 per share, representing a 6.9% premium over the final closing price before the announcement.
• The board accepted the proposal following a comprehensive process to capture full network value and support future business growth.

oOh!media (ASX:OML) signed a binding agreement to be acquired by infrastructure investor I Squared Capital for a total enterprise value of $1.04 billion.

The transaction follows an initial non-binding proposal submitted by the buyer on 29 April 2026 at a lower price of $1.40 per share.

"After a comprehensive and competitive process, the Board is pleased to have reached a binding agreement with I Squared Capital, at an attractive price," said oOh!media Chair Philippa Kelly.

Under the terms of the agreement, shareholders will receive $1.70 cash per share, which includes an interim fully franked first-half 2026 dividend of 2 cents per share.

The transaction remains subject to customary regulatory approvals, court clearance, and a vote by oOh!media shareholders expected in late October.

Following the announcement, the oOh!media share price was up at $1.66.

The company operates an extensive out-of-home advertising network spanning digital and static roadside billboards, street furniture, and retail environments across Australia and New Zealand.