Private equity groups Hellman & Friedman and EQT have ended a bidding war for pet food retailer Zooplus with a joint offer that values its equity at €3.7bn, in the latest example of the industry paying a huge premium to buy a listed business.
The pair made a final offer of €480 a share, 85 per cent above a three-month trading benchmark before the bidding war started, Zooplus said on Monday.
Buyout groups are paying the highest premiums in more than two decades, with an average of 45 per cent for European companies in 2021, according to data from Refinitiv, after raising record-sized funds and amid fierce competition for deals.
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