I Squared to Acquire oOh!Media for $634M

I Squared Capital to Acquire oOh!Media for $634M

Australian outdoor advertising company oOh!Media Ltd (ASX: OML) announced on 10 August 2026 that it has entered into a binding scheme implementation agreement with infrastructure investor I Squared Capital. Under the agreement I Squared will acquire all outstanding shares of oOh!Media for a total consideration of A$898 million, equivalent to approximately US$634 million.

The acquisition price is set at A$1.70 per share, comprising A$1.68 in cash and a fully franked interim dividend of 2 Australian cents per share. This price reflects a 6.9 % premium over oOh!Media’s last closing price of A$1.59 on 7 August 2026. In addition to the interim dividend, the oOh!Media board anticipates distributing a fully franked special dividend of about 10 cents per share.

The oOh!Media board unanimously recommended that shareholders vote in favour of the transaction, subject to an independent expert’s confirmation that the deal is in shareholders’ best interests. The transaction remains conditional upon obtaining shareholder approval, court sanction, and regulatory clearances, including approval from Australia’s Foreign Investment Review Board (FIRB) and the competition regulator.

The parties expect the acquisition to close in late November or early December 2026. Following the announcement, oOh!Media’s share price rose 4.09 %.