New Zealand firm EBOS will acquire Greencross for $2.44 billion – 11/21/2023 9:33 PM EDT.

New Zealand firm EBOS will acquire Greencross for $2.44 billion – 11/21/2023 9:33 PM EDT.

(Request for comment from TPG and Greencross added in fourth paragraph) By Scott Murdoch and Ayushmann Ojha

Australian drugmaker EBOS Group EBO.NZ said on Wednesday it would not go ahead with a potential major deal in the animal care sector.

The statement did not mention the acquisition target, but local media reported that the company would acquire Greencross, a veterinary and pet care company backed by TPG Capital.

The Australian Financial Review reported that EBOS would pay A$3.75 billion ($A2.44 billion) to acquire Greencross, without citing sources, and that it was prepared to raise about A$2 billion on Wednesday.

TPG and Greencross did not immediately respond to a request for comment.

The abandonment of the deal adds to a series of major deals that have been delayed recently in Australia, including Albemarle ALB.N abandoning its $4.2 billion bid for Liontown Resources (LTR.AX).

In a statement issued by the New Zealand Stock Exchange, EBOS said it “recently engaged in discussions regarding a potential strategic transaction relating to the animal welfare sector.”

“These discussions have now ended and the deal will not happen

EBOS shares were suspended before the deal was announced.

($1 = 1.5366 Australian dollars)

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