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BUZZ-Australia's Pacific Smiles eyes best yearly rise since 2020

Reuters
Dec 30, 2024
BUZZ-Australia's Pacific Smiles eyes best yearly rise since 2020

** Dental centers operator Pacific Smiles PSQ.AX set to rise ~34% this year, best since 2020

** The target of a year-long bidding war, PSQ had fallen the last two years

** Co got A$223.4 mln ($139 mln) takeover offer from Genesis Capital at A$1.40 per share in December 2023

** In Q1 of 2024, National Dental Care (NDC) HoldCo proposed A$303 mln deal at A$1.90 per share

** PSQ shareholders also voted against NDC's revised A$327.1 mln bid

** Last month, board members recommended that stakeholders accept Genesis' sweetened offer - A$1.95 per share for all shares it did not already own, valuing PSQ at A$316.4 mln

** Stock currently flat at A$1.955

($1 = A$1.6064)

(Reporting by Sneha Kumar in Bengaluru)

((Sneha.Kumar@thomsonreuters.com;))

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