oOh!media suitors PEP, I Squared and Oaktree reconfirm takeover bids

The news: oOh!media has confirmed that each of its three rival suitors, Pacific Equity Partners, I Squared Capital and Oaktree Capital Management, confirmed their non-binding indicative offers on Friday.

The numbers: oOh!media said the indicative proposals from the three private equity firms value its shares between $1.60 and $1.65. The company previously said “a number of these proposals” were offering $1.60 per share.

oOh!media shares last closed at $1.48.

The context: The outdoor advertising company said it intends to continue to engage with all three parties to allow the completion of confirmatory diligence and to negotiate binding transaction documentation. This will occur over an expected four-week process.