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Update: oOh!media Confirms Non-Binding Indicative Offer From Bain Capital; Shares Up 9%

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(Updates to add stock movement in the headline and the last paragraph)

oOh!media (ASX:OML) confirmed that it has received conditional non-binding indicative offers from Bain Capital and other financial sponsors, consistent with the terms of the I Squared Capital proposal, according to a Tuesday Australian bourse filing.

The company on May 11 said it received an unsolicited, non-binding takeover offer from I Squared Capital to acquire the company for AU$1.45 per share in cash via a scheme of arrangement.

Trading in the company's shares resumed on Tuesday, with its shares rising nearly 9% in recent activity.

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