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Zooplus takeover deal looks shaky as Hellman & Friedman secure only 30.46% of shares

Mark White by Mark White
November 8, 2021
in Suppliers
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FILE PHOTO: A pet owner carries her cat at a drive-through pet blessing a day before World Animal Day, at Eastwood Mall, Quezon City, Metro Manila, Philippines, October 3, 2021. REUTERS/Lisa Marie David/File Photo

BERLIN (Reuters) – Private equity firm Hellman & Friedman said on Wednesday that it had secured only a 30.46% stake in German online pet supplies retailer Zooplus as of Tuesday evening, heightening the prospect of the 3.7-billion-euro ($4.29 billion) takeover deal falling through.

For the deal to happen, the shareholder acceptance rate needs to reach more than 50% before the takeover offer expires at the end of Wednesday, the supplier of pets’ food brands such as Eukanuba, Pedigree and Royal Canin had said.

Zooplus had strongly recommended investors accept the joint cash offer from Hellman & Friedman and EQT Private Equity, which had initially fought a bidding war but then teamed up to buy the retailer.

($1 = 0.8630 euros)

Reporting by Alexander Huebner, Writing by Miranda Murray; Editing by Riham Alkousaa



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Mark White

Mark White

Mark White is the editor of the ProcurementNation, a Media Outlet covering supply chain and logistics issues. He joined The New York Times in 2007 as an commodities reporter, and most recently served as foreign-exchange editor in New York.

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