Private equity firm Bain Capital has emerged as another potential bidder for Australian outdoor advertising company oOh!media, adding to increasing takeover interest in the ASX-listed business.According to the report, Bain submitted a non-binding offer for oOh!media roughly two weeks before publication.

The proposal was reportedly prepared with advice from Jefferies Australia chief executive Michael Stock and had not been disclosed publicly to shareholders.The development follows the decision by oOh!media to enter a sale process after receiving an earlier approach from Pacific Equity Partners (PEP).

Bain’s involvement indicates that competition for the company may be intensifying, with multiple private equity firms assessing the opportunity to acquire the advertising group.Sources cited in the article said Bain’s proposal remained active as of the weekend prior to publication.

The company’s market value was reported at approximately $663 million, making it a significant target within Australia’s media and advertising sector.

While the article does not provide details on the financial terms of Bain’s offer, the revelation highlights ongoing merger and acquisition activity in the media industry.

Investors and market participants are likely to monitor whether Bain, PEP or any other interested parties submit formal bids as the process progresses.

The report was published by the Australian Financial Review’s Street Talk column, which focuses on private equity, investment banking, mergers and acquisitions, and capital markets activity.The key takeaway is that oOh!media is attracting interest from multiple buyout firms, potentially increasing competitive pressure in any future acquisition process.