Article on the AFR, excerpt:
STREET TALK
Nov 4 2018 at 4:06 PM
TPG Capital secures Greencross board approval; bid above $5.50.
As foreshadowed by Street Talk, TPG secured the Greecross board recommended deal with a bid at $5.50 a share.
As foreshadowed by Street Talk, TPG secured the Greecross board recommended deal with a bid at $5.50 a share. Paul Harris
by Sarah Thompson Anthony Macdonald
Pets and vets company Greencross is set to recommend shareholders accept a takeover bid from global private equity giant TPG Capital.
It's understood TPG secured the board recommended deal with a bid at $5.50 a share, or about 10-times forecast EBITDA and about a 50 per cent premium to where the company's shares were trading only a couple of months ago.
The deal is to be done via a scheme of arrangement and announced on Monday, sources said.
