Pacific Smiles board recommends against Genesis' revised offer

Reuters - 13/11
Australia's Pacific Smiles on Wednesday recommended its shareholders reject U.S.-based Genesis Capital's "best and final" takeover offer of A$316.4 million ($206.74 million), citing valuation concerns.
  • Genesis Capital Equity s.r.o.
    Follow
  • Pacific Smiles Group Ltd
    Follow
Nov 13 (Reuters) - Australia's Pacific Smiles (PSQ.AX), opens new tab on Wednesday recommended its shareholders reject U.S.-based Genesis Capital's "best and final" takeover offer of A$316.4 million ($206.74 million), citing valuation concerns.
Earlier this week, private equity firm Genesis, which is the top shareholder of Pacific Smiles with a 19.9% stake, increased its offer for the dental company to A$1.9825 per share for all the shares it does not currently hold.
The proposal comprises a cash payment of A$1.95 to Pacific ...
[Short citation of 8% of the original article]