• oOh!Media received unsolicited, conditional non-binding offers from ISQ and PEP to acquire the company
• ISQ offer of A$1.45 per share, PEP offer of A$1.40 per share, both via scheme of arrangement
• Board determined offers do not adequately reflect intrinsic value, will not recommend at current levels

oOh!Media Limited (ASX: OML) has received an unsolicited, conditional non-binding indicative offer from I Squared Capital (ISQ) to acquire 100% of the company's issued share capital for A$1.45 per share via a scheme of arrangement. This follows a previous unsolicited, conditional non-binding indicative offer from Pacific Equity Partners (PEP) to acquire 100% of oOh!Media for A$1.40 per share, also via a scheme of arrangement. The Board of oOh!Media has considered both proposals with its advisers and unanimously determined that neither proposal adequately reflects the intrinsic value of the company. As a result, the Board has informed both PEP and ISQ that it does not intend to recommend to shareholders any formal binding offer at or below the value of their respective non-binding indicative proposals. However, the Board is prepared to provide PEP and ISQ with access to limited due diligence to enable them to assess whether they can put forward a revised proposal capable of the Board's recommendation. oOh!Media is also engaging with certain other parties and may potentially receive change of control proposals from one or more of those parties. The company remains open to engaging with all parties to assess whether any proposal may emerge that is capable of being recommended by the Board.