It seems that a solution has been found for the takeover of online retailer Zooplus. The two opposing parties interested, Hellman & Friedman (H&F) and EQT, partnered up to provide a new offer to the shareholders. The new bid increased the share from 470 to 480 euros as well as the general equity valuation of Zooplus on around 3.7 bn euros.
To accept this submission, 50 per cent of shareholders plus one share need to assent before midnight on 3 November. It is to be given that the pre-emption rights of around 17 per cent of the Zooplus share capital remain the same.
According to Zooplus the improved offer is likely to be accepted. Therefore the majority of shareholders needs to agree which ist o be expected. As controlling partner EQT would receive the same governance rights in a parent company of Zorro Bidco. The takeover would also put the whammy on Zooplus‘ participation of the stock exchange.