Pacific Smiles Group (ASX:PSQ) is undergoing an off-market takeover bid by Beam Dental Bidco Pty Ltd. The bid has been extended by 14 days as Beam Dental Bidco's voting power exceeded 50% on November 28, 2024. The offer now closes on December 12, 2024.
Beam Dental Bidco Pty Ltd has launched an off-market takeover bid for Pacific Smiles Group Limited, aiming to acquire all its ordinary shares. The offer period was automatically extended after Beam Dental Bidco's voting power surpassed 50%. The new deadline for accepting the offer is December 12, 2024, with potential for further extensions. This development is important for Pacific Smiles stakeholders as it affects the company's control. Beam Dental Bidco, represented by Clifford Chance, has outlined the terms in several bidder's statements. Shareholders can contact the Bidco Offer Information Line for more details.
The automatic extension of the offer period is in accordance with section 624(2) of the Corporations Act.