July 8, 2016 / 9:27 PM / 2 years ago

Estácio board endorses Kroton takeover bid in Brazil consolidation -sources

SAO PAULO, July 8 (Reuters) - The board of Brazilian for-profit education company Estácio Participações SA endorsed on Friday a takeover bid from larger rival Kroton Educacional SA, according to two sources with direct knowledge of the matter.

The board will schedule a shareholder assembly and recommend approval of Kroton’s proposal. The final documents of the board meeting have not been signed yet, the sources said, adding that the company will send a securities filing regarding the results of the board meeting later on Friday. (Reporting by Tatiana Bautzer; Editing by Sandra Maler)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below