Netshoes maintains momentarily preference by agreement with Magazine Luiza

(Reuters)-The e-Commerce Portal Netshoes reported on Thursday to have notified Magazine Luiza about the receipt of a competing proposal from the owner of Centauro. "The Board of Directors of Netshoes will carefully examine the proposal of Centauro to determine the course of action that believes to be of the best interest of shareholders," said the company in a statement to the new York stock Exchange, where it is listed. "Pending the completion of this review, the Netshoes board made no determination as to whether the Centauro proposal constitutes a higher proposal under the merger agreement. In this sense, the Council reaffirms its current recommendation of the transaction with the Magazine Luiza without any reservations. " The SBF group, 2.80 dollars per share of Netshoes, represents an award of 40% on the value offered by Magazine Luiza and came after announcement, at the end of April, according to Magazine Luiza and Netshoes, for about 62 million dollars.