oOh!media confirms non-binding acquisition bid from Bain Capital
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The news: oOh!media has confirmed it has received a conditional non-binding indicative offer “from Bain Capital and other financial sponsors”, with terms consistent with those made by I Squared Capital.
The context: oOh!media made the announcement to the exchange on Tuesday morning following a report in the Financial Review late on Monday evening.
The company said it is progressing discussions with Pacific Equity Partners and I Squared Capital on their non-binding indicative offers, as previously disclosed, while also engaging with other parties on a potential transaction.
Pacific Equity Partners’ offer is worth $1.40 per share while I Squared Capital is offering $1.45 per share.
However, oOh! said it “does not intend to comment further on press speculation regarding change of control proposals”.
The company entered a trading halt ahead of this announcement.
