22 Nov 2023

Potential Ebos takeover called off after failed talks

9:30 am on 22 November 2023

Photo: RNZ / Nate McKinnon

A potential takeover deal by healthcare and animal care giant Ebos has been called off after unsuccessful talks.

Ebos has reportedly been in discussions with Australian pet care company Greencross over a potential deal, with the Australian Financial Review reporting a deal was close.

In a brief statement to the share market on Wednesday morning, Ebos confirmed it had been "in discussions regarding a potential strategic transaction related to its animal care segment".

"These discussions have now concluded and a transaction will not proceed," the company said.

Ebos shares were placed in a halt at $38.60 a share last week due to the speculation, with trading set to resume at market open Wednesday.

The company also provided a trading update, detailing a "pleasing start" to 2024, with strong growth.

It said underlying earnings for the four months ended October rose 8.8 percent, while revenue was up 8.2 percent.

Ebos reported annual revenue of more than $12 billion in its financial year ended June 2023.

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