zooplus SE
zooplus AG: zooplus supports increased and final offer of EUR 480 per share by Hellman & Friedman in partnership with EQT
DGAP-News: zooplus AG
/ Key word(s): Offer
zooplus supports increased and final offer of EUR 480 per share by Hellman & Friedman in partnership with EQT – Increased and final offer will be pursued via the existing takeover offer by H&F’s investment vehicle “Zorro Bidco” with no effect on offer conditions and timeline – EQT to become controlling partner in Zorro Bidco with equal governance rights following settlement and subject to required regulatory approvals – Increased cash consideration represents a significant premium of 85 percent to the unaffected 3-months VWAP of zooplus – zooplus boards strongly recommend shareholders to accept the takeover offer prior to its expiry on November 3, 2021, 24:00 hrs CET – All regulatory clearances already obtained by Zorro Bidco allowing for immediate settlement of takeover offer if the minimum acceptance threshold is reached – Improved offer increases transaction certainty and provides shareholders with the ability to immediately realize significant upfront value creation
“It has been the Management’s top priority throughout the entire process to act in the best interest of the company and maximize the value for our shareholders while providing transaction certainty. With this offer by H&F in partnership with EQT, our shareholders now have the clarity and ability to take an informed tender decision and realize a remarkable 85 percent premium. Given the significant value creation for our shareholders, the complementary expertise of both partners as well as their financial and strategic commitments to the company and its stakeholders, we as the Management Board – together with the Supervisory Board – confirm our recommendation to our shareholders to accept Zorro Bidco’s offer”, said Dr. Cornelius Patt, CEO of zooplus. No implications on timeline and offer conditions The offer is subject to a minimum acceptance threshold of 50 percent plus one share. The existing irrevocable tender commitments of approximately 17 percent of zooplus’ share capital will remain in place. Zorro Bidco has already obtained all necessary merger control and foreign regulatory clearances. It does not intend to enter into a domination and/or profit and loss transfer agreement. In case of a successful closing of the offer, all parties intend to delist zooplus post-closing. The Company has also been informed that Pet Bidco GmbH, an investment vehicle of EQT, does not intend to increase or otherwise amend its voluntary public takeover offer, which is thus expected to lapse. Two strong partners to fully seize long-term growth opportunity in the fast-evolving European pet market Recommendation to shareholders
For further information about zooplus, please visit investors.zooplus.com or our international shop site at zooplus.com. Press / Investor relations contact: Finsbury Glover Hering
25.10.2021 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | zooplus AG |
Sonnenstraße 15 | |
80331 München | |
Germany | |
Phone: | +49 (0)89 95 006 – 100 |
Fax: | +49 (0)89 95 006 – 500 |
E-mail: | contact@zooplus.com |
Internet: | investors.zooplus.com |
ISIN: | DE0005111702 |
WKN: | 511170 |
Indices: | MDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1243046 |
End of News | DGAP News Service |