oOh!media Secures Court Approval to Convene Shareholder Meeting for I Squared Capital Deal

MT Newswires Live

Sep 29

oOh!media (ASX:OML) secured the Supreme Court of New South Wales' approval to convene a shareholder meeting and distribute the scheme booklet for the proposed AU$1.68-per-share acquisition by OOH BidCo, backed by I Squared Capital, according to an Australian bourse filing on Monday after market hours.

The company's board unanimously recommends that shareholders vote in favor of the scheme, provided there is no superior proposal, per the filing.

The independent expert, Grant Samuel, valued the company shares at AU$1.59 to AU$1.78 and concluded that the proposed AU$1.68-per-share offer is in the best interests of shareholders, the filing said.

The scheme booklet is expected to be distributed by Oct. 2, with shareholders scheduled to vote on the proposal at the scheme meeting on Nov. 2, the filing added.

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