Most holders of Brazil's Estácio back Kroton bid -source

lunes 27 de junio de 2016 16:06 GYT

RIO DE JANEIRO, June 27 (Reuters) - At least 52 percent of shareholders in Brazilian for-profit college operator Estácio Participações SA endorse rival Kroton Educacional SA's unsolicited, all-stock bid, which could become hostile "if necessary," a source with direct knowledge of the situation said on Monday.

The source, who requested anonymity because of the sensitivity of the issue, said that an offer that values Estácio at the equivalent of 1.25 share of Kroton is a definitive one. (Reporting by Juliana Schincariol; Writing by Guillermo Parra-Bernal and Tatiana Bautzer; Editing by Dan Grebler)