RIO DE JANEIRO, June 28 (Reuters) - Brazilian for-profit education company Ser Educacional SA plans to present an improved proposal to combine with larger rival Estácio Participações SA by Thursday, according to two sources with direct knowledge of the matter.
Ser Educacional’s new offer would keep a proposed one-time cash payment as part of the bid, according to the sources who requested anonymity because the plan remains private. Ser Educacional will present the Estácio offer the same day that one from rival Kroton Educacional SA expires.
Kroton and Ser Educacional extended unsolicited takeover offers for Estácio earlier this month. (Reporting by Juliana Schincariol; Writing by Tatiana Bautzer; Editing by Jeffrey Benkoe)