Bain Capital Bids for oOh!Media as Rival Offers Reached A$1.45 a Share
Updated
Updated · Bloomberg · Jun 9
Bain Capital Bids for oOh!Media as Rival Offers Reached A$1.45 a Share
3 articles · Updated · Bloomberg · Jun 9
Summary
Bain Capital has made a non-binding bid for Australia’s oOh!Media, adding a new suitor to the contest for the outdoor advertising group.
oOh!Media was already weighing two approaches: Pacific Equity Partners offered A$1.40 a share in April, and I Squared Capital followed in May with an all-cash A$1.45 proposal.
The I Squared bid valued oOh!Media at about A$765.9 million, setting the current benchmark as Bain enters the process.
The fresh approach intensifies takeover interest in one of Australia’s listed outdoor advertising companies and could sharpen pressure on bidders to improve terms.