Crescent Capital has returned with a higher offer in the private equity bidding war for dental group Pacific Smiles which values the target at $327 million.
Pacific Smiles told the ASX on Thursday that the bidding vehicle operated by Crescent Capital had lifted its proposal to $2.05 a share, made up of $1.98 in cash plus a 7¢ dividend.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
