Australia's Pacific Smiles Group jumps on revised bid from Genesis Capital

Pacific Smiles

19/03/2024 02:08

** Shares of Pacific Smiles Group  PSQ.AX  rise as much as
9.1% to A$1.625, their highest since Nov. 24, 2022 
    ** Stock posts its biggest intraday gain since Dec. 18
    ** Dental centers operator says it received a revised
non-binding proposal from Genesis Capital 
    ** Proposal to acquire all of PSQ shares for A$1.75 in cash
per share
    ** Adds co and Genesis Capital have entered into process
deed which provides framework for due diligence process 
    ** Co says current intention of board is to recommend that
shareholders vote in favour of proposed transaction
    ** Stock up for second session
    ** Stock up ~2% YTD as of last close 

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))