Street Talk

Genesis lobs $300m bid for struggling dental outfit Pacific Smiles

Sarah Thompson, Kanika Sood and Emma Rapaport

Sep 17, 2024 – 8.00am

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Is the end in sight for shareholders of rudderless takeover target Pacific Smiles? It has been less than two weeks since the exit of the dental chain’s chief executive, Andrew Vidler, along with other executives.

Vidler left after investors voted against a $327 million takeover bid from private equity group Crescent Capital at a shareholder meeting on August 8.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.