Australia's Pacific Smiles at near 2-year high on $198 mln buyout bid from NDC

Pacific Smiles

29/04/2024 03:29

** Shares of Pacific Smiles Group  PSQ.AX  rise as much as
14.7% to A$1.87, their highest since July 12, 2022
    ** Stock posts its biggest intraday percentage gain since
Dec 18, 2023
    ** The dental centres operator says it recommends a takeover
offer from National Dental Care (NDC) HoldCo, valuing it at
A$303 mln ($198.83 mln)
    ** Takeover price represents a premium of 16.6% to co's last
close of A$1.63 on Friday
    ** About 242,600 shares change hands, compared with the
30-day average volume of about 133,000
    ** Stock up 11.6% YTD, based on last close

     ($1 = 1.5239 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))