ASX Announcements
Market Sensitive
Takeover - extension of offer period
Takeover - extension of offer period
- Jan 16, 2025
- 2 pages
Initial Director's Interest Notice - T Hariharan
Initial Director’s Interest Notice
- Dec 19, 2024
- 2 pages
Market Sensitive
Takeover - extension of offer period
Takeover - extension of offer period
- Dec 19, 2024
- 2 pages
November 2024
Genesis crowns Pacific Smiles directors as major shareholder exits
Genesis Capital leapt over the 50 per cent threshold on Friday morning to secure majority control of the dental clinic chain.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Grin and bear it: Genesis set for board control at Pacific Smiles
After an 11-month prolonged saga, Street Talk would not be surprised to see the private equity firm move to take majority control before the end of the week.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Pacific Smiles founder backs Genesis bid…but he’s not selling
The dental chain founder says he’d be supportive of Genesis receiving board representation.
- Sarah Thompson, Kanika Sood and Emma Rapaport
No deal: Pacific Smiles board set to reject Genesis’ revised $311m bid
Street Talk understands the board of the $310 million dental chain is set to knock back Genesis’ revised “best and final” $1.95-per-share offer.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Genesis set to up bid for Pacific Smiles, drops conditionality
Street Talk understands private equity group Genesis Capital will on Monday lodge a supplementary bidders statement and increase its offer for the takeover.
- Sarah Thompson, Kanika Sood and Emma Rapaport
September 2024
Pacific Smiles board set to reject Genesis’ $300m bid
Street Talk understands the dental chain’s board will reject Genesis’ $1.90 per share bid later today.
- Sarah Thompson, Kanika Sood, e and Emma Rapaport
Medical entrepreneur’s R&D finance shop kicks off $100m capital raise
Sources said the firm is busy talking to family offices and institutional debt funds to fund its loan book.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Pacific Smiles’ 11pc shareholder backs Genesis $300m bid
Street Talk understands fund manager Spheria Asset Management intends to lend its considerable support to Genesis Capital’s new offer.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Genesis lobs $300m bid for struggling dental outfit Pacific Smiles
The private equity firm wants to give shareholders and management certainty over the fate of the business, and put an end to the protracted takeover battle.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Pacific Smiles CEO exits after just eight months and failed takeover
Co-founder and large shareholder says July trade was strong in part because some dentists cut back on the usual skiing holidays and worked instead.
- Simon Evans
August 2024
Pacific Smiles shares tumble as $327m buyout plan fails
Kingmaker Dr Alex Abrahams, a co-founder of dentistry group Pacific Smiles, voted his 9.5 per cent stake against the Crescent Capital offer, helping to kill it.
- Simon Evans
Genesis remains defiant on blocking Crescent’s Pacific Smiles bid
Street Talk understands Genesis Capital isn’t done yet and will continue to use its considerable stake to thwart the bid.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Opinion
- Chanticleer
Bidders having it both ways with ‘best and final’ threats
You’ve got to give it to the top investment bankers and lawyers – they’ve perfected the art of driving a truck through a two-inch gap.
- Anthony Macdonald
Crescent Capital returns with $327m bid for Pacific Smiles
The battle between private equity players Genesis and Crescent took another twist, with the owner of the National Dental Care network lifting its offer.
- Simon Evans
July 2024
- Opinion
- Chanticleer
The PE takeover battle that is like pulling teeth
Once a board has decided a takeover isn’t about the highest price, it enters the deal-making twilight zone. This one is a doozy.
- Anthony Macdonald
Pacific Smiles board says lower private equity offer is better
A shareholder vote on a $305m buyout has been postponed, with the onus back on Crescent Capital to make a counter-proposal for the dentistry group.
- Simon Evans
Genesis Capital ups bid in private equity battle for Pacific Smiles
The kingmaker in the battle for Pacific Smiles and its 136 dental centres is co-founder Alex Abrahams, who expects more “twists and turns” to come.
- Simon Evans
Crescent Capital’s 1¢ Pacific Smiles bid increase leads to chagrin
The skinny increase, which Crescent declared was their best and highest, sees the scheme consideration increase by 0.5 per cent to $1.91.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Crescent tries to pull off the near impossible at Pacific Smiles
But the private equity firm has another ace up its sleeve. Influential proxy adviser Institutional Shareholder Services has thrown its support behind the bid.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Business with a smile: Genesis Capital ramps up fight for dental biz
With Genesis’ voting intentions out in the open, the coming weeks will see a flurry of activity in all camps.
- Sarah Thompson, Kanika Sood and Emma Rapaport