- The Hellman & Friedman Offer Document was published today with the permission of BaFin, the acceptance period runs until October 12, 2021.
- The offer price is 460 euros per share, which corresponds to a premium of 65 percent on the last closing price before the announcement of the offer.
After extensive discussions with the company’s stakeholders and in order to put an end to the ongoing speculation about offers from third parties, Hellman & Friedman LLC, as the bidder, decided on September 12 to increase the consideration in cash from EUR 390 per share by EUR 70 to EUR 460 per share . From today, shareholders of zooplus AG can Offer from H&F accept and tender their shares at a price of 460 euros per share.
The significantly improved offer price offers a premium of 65 percent on the closing price on August 12, 2021 and 77 percent on the volume-weighted average price of the last three months prior to the announcement on August 13, 2021. The premium is 58 percent on the closing price on August 11, 2021 August 2021, that is, the highest closing price ever reached before the announcement on August 13, 2021 and before the most recent bid speculation.
Zooplus AG: Takeover offer is below the minimum acceptance threshold
The acceptance period is expected to end on October 12, 2021. The public takeover offer is subject to reaching a minimum acceptance threshold of 50 percent plus one zooplus share at the end of the acceptance period and the granting of merger control and foreign trade approvals as well as other customary conditions. Subject to the fulfillment of the offer conditions, the transaction is expected to be completed by November 2021 at the latest.
As already announced, Hellman & Friedman has already received tender obligations for around 17 percent of the shares in zooplus AG, including those of the members of the Management Board, Maxburg Beteiligungen GmbH and Luxempart. With the strategic partnership, Hellman & Friedman and zooplus AG want to secure the company’s position as the leading online platform for pet supplies in Europe and achieve sustainable, long-term growth.
Intense competition for pet supplies
The transaction will enable zooplus to make substantial investments in the coming years in order to adapt to an increasingly competitive market landscape. zooplus will benefit from the industry expertise and practical support from H&F as well as a stable ownership structure in order to strengthen the long-term position of zooplus AG in the rapidly developing European pet supplies market.
Hellman & Friedman is a private equity firm with an investment approach focused on large-scale equity investments in high quality growth companies. H&F strives for partnerships with first-class management teams in which its industry expertise, long-term orientation and a partnership approach help the company to be successful. The company is currently investing its 10th fund with committed capital of over $ 24 billion and $ 80 billion in assets under management and committed capital.
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