Mercapital and Merrill Lynch are reported to have made a joint €500m bid for Spanish dental clinic group Vital Dent.
Spanish daily Expansion cited a source close to the deal saying that the two had teamed up and made the highest offer so far for the 430-strong dental clinic chain.
French buyout firm PAI Partners is also believed to be mulling a bid, although it is unclear what it is prepared to pay for the business. Reports suggest UK-based buyout firms Permira and 3i are also interested in the company.
Vital Dent is based in Spain but also has a presence in Italy, Portugal and the US. It generated ebitda of €50m on revenues of €470m according to Expansion.
Source: Thomson Merger News