Pacific Smiles Group Ltd (AU:PSQ) has released an update.
Pacific Smiles Group has recommended shareholders to reject an off-market takeover offer from Genesis Capital, citing the decision is backed by the company’s strong financial performance and significant shareholders’ intentions to decline the bid. The offer fails to meet the 90% Minimum Acceptance Condition, rendering it currently incomplete, as key stakeholders MA Financial Group and co-founder Dr. Alison Hughes have indicated their rejection. Pacific Smiles highlights the timing of the offer as opportunistic, given their robust FY24 results and solid cash position.
For further insights into AU:PSQ stock, check out TipRanks’ Stock Analysis page.