Pacific Smiles Group (ASX:PSQ) suitor Genesis Capital raised its takeover offer for the ASX-listed company to AU$1.9825 per share and declared its revised bid unconditional, according to a Monday filing with the Australian board.
The all-cash consideration includes the AU$0.0325 dividend paid by Pacific Smiles on Oct. 10. This means Pacific Smiles shareholders are entitled to receive AU$1.95 per share at completion and to a proportional increase to the cash component of the mixed consideration.
Meanwhile, Pacific Smiles said it is carefully considering the amended offer, including any update to the board's recommendation that shareholders reject the bid.
Pacific Smiles' shares were up 3% in recent trade.
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