Zooplus AG, one of Europe’s largest online pet supplies’ retailers, said on Saturday that Swedish private equity firm EQT AB has made an offer to buy the company for about $3.94bn. 
 
EQT’s 470-euros-per-share offer for Zooplus comes after U.S. private equity company Hellman & Friedman this month raised its offer to buy the company for €3.29bn from an initial €3bn.
 
The deal represents a premium of about 69% to Zooplus’s last close on Aug. 12, the day before Hellman & Friedman made its first offer.

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The company, which has benefited from rising online demand for pet supplies during the pandemic, said in a statement that its management and supervisory boards welcomed the takeover offer from EQT.Earlier in the month, U.S. financial investor KKR & Co Inc terminated its talks on a potential takeover offer for the company, two days after Hellman & Friedman raised its offer.

Source: Reuters

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