(Reuters) – Zooplus AG, one of Europe\u2019s largest online pet supplies\u2019 retailers, said on Sunday that Hellman & Friedman has raised its takeover offer for the group to 3.29 billion euros ($3.89 billion) from an initial offer of 3 billion euros.<\/p>\n
The U.S. private equity firm pitched the new offer at 460 euros per Zooplus share, representing a premium of 5.9% to the German company\u2019s closing price on Friday.<\/p>\n
The move came after financial investor KKR this month expressed interest in acquiring Zooplus, becoming the third potential suitor since the takeover battle began in August.<\/p>\n
The pet shop chain\u2019s board said last month it had accepted a 390 euro per share offer from Hellman & Friedman, at the time a 40% premium to its last closing price.<\/p>\n
The company, which has benefited from rising online demand for pet supplies during the pandemic, said in a statement on Sunday that its management and supervisory boards welcomed the increased offer and intended to recommend it to shareholders.<\/p>\n
Hellman & Friedman has already acquired several stakes in German companies in the past, including Axel Springer and AutoScout24.<\/p>\n
($1 = 0.8467 euros)<\/p>\n