Centauro owner improves Netshoes offer

Centauro owner improves Netshoes offer

M&A Equity Capital Markets Brazil

Brazil's Grupo SBF, owner of the local sporting goods store Centauro, said it has improved its offer to buy the online shoe store Netshoes for a second time, looking to beat a competing bid from Magazine Luiza. SBF increased the offer to $115m, or $3.70 per share, after the Netshoes board recommended that shareholders approve a takeover by Magazine Luiza, the company said in a securities filing. Magazine Luiza agreed to buy Netshoes for $62m, or $2 per share, in late April, but SBF joined the

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