BERLIN — U.S. financial investor KKR has terminated talks regarding a potential takeover offer for Zooplus, the German online pet shop chain said on Wednesday, two days after another suitor raised its offer price for the company.
“The financial investor KKR has informed the company today of its decision to no longer pursue the discussions regarding a potential voluntary public takeover offer by KKR to the shareholders of the company in light of the recent developments,” Zooplus said in a statement.
Zooplus, which is also in talks with private equity firms EQT and Hellman & Friedman, announced talks about a possible KKR takeover offer last week.
It said on Sunday that Hellman & Friedman had raised its bid to 3.29 billion euros ($3.89 billion) from 3 billion. ($1 = 0.8463 euros) (Reporting by Riham Alkousaa, editing by Kirsti Knolle)