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UPDATE 1-Brazil retailer Grupo SBF again raises offer for Netshoes [Reuters]

NETSHOES (CAYMAN) LTD (NETS) 
Last netshoes (cayman) ltd earnings: 11/13 05:09 pm Check Earnings Report
Company Research Source: Reuters
Brazil retailer Grupo SBF again raises offer for Netshoes RIO DE JANEIRO (Reuters) - Brazilian retailer Grupo SBF SA, which controls sports retailer Centauro, has raised its bid for Netshoes Ltd, the firm said late on Tuesday, as a bidding war for the struggling e-commerce player heated up. Brazilian electronics and appliance retailer Magazine Luiza SA first agreed to buy Netshoes in late April, offering $2 per share, but that deal was countered by a $2.80-per-share offer from Grupo SBF last week. That offer was in turn countered by a $3 per share offer from Magazine Luiza over the weekend. In a Tuesday securities filing, SBF said it again raised its bid, to $3.50 per share, valuing the firm at about $109 million. As part of the proposal, SBF said the firm would offer 70 million reais ($17.4 million) in financial support to Netshoes immediately following a May 30 shareholders meeting and make its products available on Netshoes’ online sales platforms. However, in a statement on Wednes Show less Read more
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