Kroton Lifts Estacio Bid; Ser Says It’s Still in the Hunt

Updated on
  • Terms provide 48% premium to Estacio’s June 1 closing price
  • Kroton, Ser Educacional making competing bids for company

Kroton Educacional SA boosted its offer to acquire Estacio Participacoes SA by 28 percent to 5.21 billion reais ($1.54 billion), seeking victory in a bidding war among Brazil’s biggest for-profit education companies. Rival suitor Ser Educacional SA said it’s continuing to talk with Estacio.

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