Deals
H&F, EQT Team Up on $4.3 Billion Zooplus Bid, Ending Battle
- Move is another example of PE funds joining up for M&A
- Multiple bidding rounds for Zooplus drove premium up to 85%
The Zooplus website.
Source: Zooplus
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Hellman & Friedman and EQT AB teamed up on a joint 3.7 billion euro ($4.3 billion) offer for Zooplus AG, ending a takeover battle between the private equity companies that drove up the price for the German online pet-food retailer.
Hellman & Friedman said it raised its offer to 480 euros a share in cash from 470 euros, and EQT will be an equal partner in the bid, continuing a growing trend for private equity funds to cooperate rather than trying to outbid each other.