Genesis Capital sweetens takeover offer for Pacific Smiles to $209 mln (updated)

Pacific Smiles

11/11/2024 02:07

(Adds background and details from paragraph 2 onwards)
       Nov 11 (Reuters) - Australia's Pacific Smiles  PSQ.AX 
said on Monday that it had received a sweetened buyout offer
from U.S.-based private equity firm Genesis Capital, valuing the
dental firm at A$316.4 million ($208.51 million).
    Genesis raised its all-cash offer to A$1.9825 per share from
A$1.90 a piece announced in September, among other options.
    Pacific Smiles' board is currently considering the new
offer, the company said.
    Meanwhile, Genesis, which was competing with rival bidder
National Dental Care's A$327.1 million takeover offer, said that
the revised offer was its best and final offer.      

($1 = 1.5175 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru; Editing by Subhranshu
Sahu)
 ((Sneha.Kumar@thomsonreuters.com;))