Pacific Smiles Group (ASX:PSQ) announced a takeover bid from Beam Dental Bidco Pty Ltd. The board recommends accepting the offer of $1.9825 per share. This is the final price unless a competing proposal arises. The offer closes on November 29, 2024.
Pacific Smiles Group has received an off-market takeover bid from Beam Dental Bidco Pty Ltd at a price of $1.9825 per share. The Board recommends acceptance of this offer, which provides certainty of value for shareholders. The offer is set to close on November 29, 2024, but may be extended if Bidco obtains over 50% voting power or if a competing offer appears. Currently, Bidco holds 40.49% of shares. Shareholders can accept the offer online or through their brokers. Those who do not accept may face risks, including potential share price drops and reduced liquidity. The takeover aligns with Bidco's strategic goal to gain control of Pacific Smiles.
The Board has unanimously recommended that shareholders accept Bidco's Cash Offer, which is valued at $1.9825 per share. This offer is Bidco's best and final price unless a competing proposal emerges.