Brazil's Magazine Luiza matches SBF offer for Netshoes
adds details from bidding war, changes headline
SAO PAULO, June 13 (Reuters) - Brazilian retailer Magazine Luiza SA MGLU3.SA rose its offer to buy online sports retailer Netshoes Cayman Ltd NETS.N to $3.70 per share, matching an offer by contender Grupo SBF SA CNTO3.SA, according to a securities filing on Thursday.
Magazine Luiza, which had previously offered $3 per share of Netshoes, saidin the filing that Netshoes' board has reiterated its recommendation to approve the deal at a shareholders' vote scheduled for Friday.
On Wednesday apparel retailer Grupo SBF SA CNTO3.SA, operator of Brazil's Centauro stores, upped its own offer for the online sports retailer to $3.70 apiece, representing a $114.9 million bid.
SBF said its proposal included a 120 million real ($31 million) loan to boost Netshoes' immediate working capital needs.
(Reporting by Ana Mano Editing by Chizu Nomiyama)
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