Australia's Pacific Smiles Group jumps most in 1-1/2 months on takeover bid

Pacific Smiles

17/09/2024 04:29

Sept 17 (Reuters) -    ** Shares of Pacific Smiles
Group  PSQ.AX  jump as much as 6.6% to A$1.870, their biggest
intraday pct gain since Aug. 1 
    ** Stock hits its highest level since Aug. 8
    ** The dental care firm  says it has received an off-market
takeover bid from fund manager Genesis Capital
    ** Says offer for A$1.90 per Pacific Smiles share in cash,
scrip or a mix of cash and scrip
    ** Pacific Smiles shareholders had, in August, voted against
National Dental Care's A$327.1 mln ($220.76 mln) takeover offer
    ** Stock up 28.1% YTD as at 0327 GMT, outperforming the
broader ASX200 index  .AXJO  which is ip 7.3%

($1 = 1.4817 Australian dollars)

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))