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Updated · Bloomberg · May 10I Squared Capital makes $554 million takeover offer for oOh!media
5 articles · Updated · Bloomberg · May 10
- The unsolicited, conditional, non-binding bid values the Australian outdoor advertising company at A$765.9 million, or A$1.45 a share in cash.
- It tops Pacific Equity Partners' April non-binding proposal of A$1.40 per share and represents a 15% premium to oOh!media's Friday closing price.
- The approach sets up a rival contest for oOh!media, with I Squared seeking to outbid an earlier private equity suitor.
oOh!media's board rejected two bids. What is the hidden value potential buyers are missing? Why are infrastructure giants now battling over a traditional billboard advertising company?