Pacific Smiles Group Ltd (AU:PSQ) has released an update.
Pacific Smiles Group Ltd has advised its shareholders to reject the off-market takeover bid from Genesis Capital, citing the bid’s failure to meet the company’s recent strong financial performance and the offer being significantly lower than a previous cash offer. Major shareholders, including MA Financial Group and co-founder Dr. Alison Hughes, have expressed intentions not to accept the bid, further indicating that Genesis Capital’s minimum acceptance condition cannot be currently satisfied.
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