Mayfield Childcare’s investor-turned-bidder Genius Education Holdings has done some soul-searching (and due diligence) over Christmas holidays, and is ready to come back with a higher bid.
Mayfield Childcare’s investor-turned-bidder Genius Education Holdings has done some soul-searching over the holidays, and is ready to hit back with a higher offer.Sources said Genius would increase its bid by at least 5.5 per cent, to match Ontario Teachers’-backedand get its nose back in front in the unfolding two-horse race.
Should Genius go to $1.35 a share on Friday, as expected, it would only be the third bid for the target, and comes after both suitors’ earlier proposals won them access to Mayfield’s books. Small cap childcare deals have a habit of escalating quickly. Investors’ memories are fresh from childcare dealmaking flurry in 2021, and they sure are hoping for more action. Mayfield stock last traded at $1.39., Busy Bees beat Alceon Private Equity to take the business private in a $195 million deal in 2021. Busy Bees also paid $NZ160 million for Kiwi player Provincial, adding it to its 900 odd centres around the world.
co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.
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