July 1, 2016 / 7:15 PM / 4 years ago

Brazils Ser to press antitrust watchdog Cade on Krotons deal with Estacio, source says

RIO DE JANEIRO, July 1 (Reuters) - Ser Educacional SA will use all legal means to ensure a merger between Brazil’s two largest education companies, Estácio Participações SA and Kroton Educacional SA, meets antitrust rules, a source with knowledge of the matter told Reuters.

Estacio said on Friday that its board had agreed to the financial terms of a takeover bid from Kroton, dismissing a rival offer from Ser. The sources said that Ser was considering the best moment to formally drop its offer and other education companies have reached out to discuss possible combinations with it. (Reporting by Juliana Schincariol; Writing by Tatiana Bautzer; Editing by Daniel Flynn)

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