Three suitors lift oOh!media bids to $1.65 per share

• Three rival private equity firms reconfirmed their non-binding takeover offers for oOh!media with higher valuations.
• The indicative bidding range rose to between $1.60 and $1.65 per share, representing a premium over the previous closing stock price of $1.48.
• The company is extending due diligence access for up to four weeks to help the suitors finalise their binding transaction documentation.

oOh!media (ASX:OML) confirmed that rival suitors Pacific Equity Partners, I Squared Capital and Oaktree Capital Management reconfirmed their non-binding indicative takeover offers.

The target company stated that the latest proposals value its shares between $1.60 and $1.65, which is an increase from the previous indications of $1.60 per share.

The outdoor advertising firm stated that it intends to continue to engage with all three parties to allow the completion of confirmatory diligence and to negotiate binding transaction documentation.

The company stated that this final process is expected to take up to four weeks, though the board noted there is no certainty that any proposal will result in a binding offer.

Following the announcement, the oOh!media share price was unchanged at $1.48.

The initial takeover interest began in late April when Pacific Equity Partners made an unsolicited cash offer of $1.40 per share, which was followed by a $1.45 per share proposal from I Squared Capital in May.

The business previously reported its full-year financial results for 2025, showing that revenue increased 8.8% to $691.36 million while adjusted underlying net profit after tax rose 7% to $63 million.