Now Reading: I Squared Capital wins oOh!media with A$1.04bn bid
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I Squared Capital wins oOh!media with A$1.04bn bid
I Squared Capital will acquire Australian outdoor advertising firm oOh!media for A$1.04 billion (about $735 million), including debt. The deal values equity at about A$898 million, with shareholders receiving A$1.70 per share…
The Story in Brief
I Squared Capital will acquire Australian outdoor advertising firm oOh!media for A$1.04 billion (about $735 million), including debt. The deal values equity at about A$898 million, with shareholders receiving A$1.70 per share in cash and dividends. The offer is a 6.9% premium over the August 7 closing price and 100% above the April 28 price before rival Pacific Equity Partners made an initial bid. oOh!'s board unanimously recommended the deal after a competitive contest that also involved Bain Capital and Oaktree Capital.
The Indian Opinion
Some Indian readers may see this as just another foreign buyout, but the bidding war between global firms shows real competition for out-of-home advertising assets. The 100% premium from April lows suggests the market had underpriced oOh!media. The real test is whether I Squared can generate returns from a non-infrastructure asset in a sector facing digital disruption.
Source: economictimes.indiatimes.com
This story was synthesised by AI from the source linked above.
