oOh!media Advances Takeover Talks With Three Bidders
Synopsis
The company will continue due diligence and negotiations after all three private equity suitors reaffirmed their indicative proposals.
Australia’s oOh!media has moved to the next stage of the sale process following confirmation that three private equity firms have submitted indicative offers.
Pacific Equity Partners (PEP), Oaktree Capital Management and I Squared Capital had earlier been confirmed by oOh!media to have made indicative offers to buy the company for A$1.65 per share. However Bain Capital has now exited the process.
None of the indicative offers is binding and they are conditional on a number of factors, including financing and approvals.
Sale Process Narrows
In the latest update to the sale process, the out of home advertising group has said it will move the process into its next phase and extend the deadline for due diligence for the remainder of bidders by a further six weeks prior to submitting binding offers.
No preferred bidder has been selected, nor is there a certainty that any transaction will proceed. OOh!media will notify its shareholders if a deal has been agreed upon.
The ASX-listed out-of-home operator has now attracted indicative proposals which would value it at close to A$890 million. The proposed offers also highlight the ongoing interest in Australia’s largest listed out-of-home advertising company.
Industry Growth Supports Interest
The oOh!media takeover is just the latest deal as the out-of-home advertising market in Australia continues to grow at pace.
The Outdoor Media Association (OMA) Full Year 2025 Report shows that out of home net media revenue for the period increased 11.4 per cent to $1.45 billion, with digital out-of-home contributing 76.6 per cent of that figure.
There is significant ongoing investment in out-of-home advertising in the United States, United Kingdom and parts of Europe as advertisers look to digital billboards, transit and retail advertising formats.
OOh!media’s national portfolio includes advertising locations on roadside billboards, at airports, in shopping centres, on street furniture and in public transport.
Latest Financial Position
The interest in a takeover deal has been sparked by a strong financial performance from oOh! Media. In the latest annual report for 2025, oOh!
Media delivered an underlying net profit after tax (NPAT) of A$63 million, while its revenue rose by 9 per cent to A$691.4 million.
This compared to a statutory NPAT of A$16.9 million, with the lower result explained by non-cash impairment charges that offset the gains made in underlying operating earnings.
Earlier in the takeover process, a number of oOh!media’s shareholders indicated the company had been undervalued with an aggressive valuation by Harris Oakmark noting oOh!media’s outstanding portfolio of advertising assets and significant earnings power.
Source: Capital Brief
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Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
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