Germany's Zooplus Says KKR Terminates Talks On Potential Takeover Offer; Stock Down

Shares of zooplus AG were losing around 3 percent in the morning trading in Germany after the company said that financial investor KKR has terminated discussions regarding a potential voluntary public takeover offer for the German online pet platform.

KKR informed its decision to no longer pursue the discussions regarding a potential voluntary public takeover offer in light of the recent developments.

Last week, zooplus confirmed its discussions with KKR regarding the potential voluntary public takeover offer.

Meanwhile, U.S. private equity firm Hellman & Friedman, which had made a takeover offer in August, recently revised its offer to buy the online retailer of pet supplies to 3.29 billion euros or $3.89 billion, from an initial offer of 3 billion euros.

Zooplus, founded as a German start-up in 1999, offers a large and relevant product offering in the pet food and pet care & accessories range. Sales totaled more than 1.8 billion euros in the 2020 financial year, capturing roughly 7% of the European pet supplies market.

In Germany, zooplus shares were trading at 468.40 euros, down 2.6 percent.

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