Brazil's Ser Educacional analyzed Estacio bid for months

lunes 6 de junio de 2016 11:27 GYT
 

SAO PAULO, June 6 (Reuters) - Brazil's Ser Educacional SA has been studying a merger proposal for Estácio Participações SA since the end of last year, Investor Relations Officer Rodrigo Macedo Alves told analysts on a Monday conference call.

Ser Educacional had been planning to make a formal offer in August, he said. However, Kroton's decision to launch an unsolicited bid last week led management at Ser Educacional to speak with Estácio's board and then submit its own offer, he said. (Reporting by Brad Haynes)