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 deal making twilight zone. This one is a doozy.
Every year, there’s a bolt-from-the-blue M&A tussle that hits fever pitch – a scrap over something completely unexpected.
This year’s is dental centres owner Pacific Smiles, the sort of $300 million small cap that’s only really hit the headlines twice in the past decade; its float in 2014 and when its jacked-off founder/shareholder tried to roll the board nearly two years ago.
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