Australia's oOh!media rises to 2-1/2-month high on PEP takeover bid

Ooh!Media

29/04/2026 01:37

** Shares of Australian outdoor advertising and media company oOh!media OML.AX rise as much as 47.1% at $1.25, their biggest intraday pct gain

** Stock hits its highest level since February 5

** oOh!media receives unsolicited, non-binding offer from Pacific Equity Partners (PEP) to buy company, valuing it at A$746.9 million ($536.87 million)

** Pacific Equity proposes to buy all OML shares at A$1.40 apiece

** Stock last up 38.2%, trimming YTD losses to 9.6%

   ($1 = 1.3912 Australian dollars)

 (Reporting by Sruthi Narasimha Chari in Bengaluru)

 ((Sruthinarasimha.chari@thomsonreuters.com))