Pacific Equity Partners makes unsolicited bid for oOh!media

Pacific Equity Partners (PEP) has made an unsolicited takeover bid to acquire oOh!media for $1.40 per share.

That is a premium of 64.7% from its last closing prices of $0.85 and values the media firm at around $747million.

oOh!media provides outdoor advertising services helping clients reach a large and diverse audience.

It has over 35,000 assets across its national digital and classic network that reaches over 99% of metro Australians and 72% of metro New Zealanders every week. Assets are located across roadsides, retail centres, airports, train stations, bus stops, office towers and universities.

The board of oOh!media said it will consider and evaluate the proposal and update shareholders in due course.

The proposal is subject to a satisfactory completion of due diligence by PEP, a unanimous recommendation by the oOh!media board, an approval by PEP's investment committee along with an approval by the Foreign Investment Review Board and Overseas Investment Office.

PEP said it is open to adjusting the terms of the proposal to take into account the impact of any further buyback, dividends, distribution, acquisitions, divestments, changes in the final share capital or undisclosed liabilities.

PEP is Australia's largest private markets firm with $18 billion in assets under management.

oOh!media reported a revenue of $691.4 million in 2025, with adjusted profits coming in at $63 million. It expects to continue to take revenue share from other media sectors.