Finnish Pet-Care Company Musti Draws Offer Close to $1 Billion
- Consortium of investors offers €26 for each Musti Group share
- Investors include chairman, CEO, and board recommends offer
Musti caters to pet owners, a group that’s been growing for the past decades.
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Musti Group Oyj received an offer valuing the Finnish chain of pet-care stores at €868 million ($954 million) from a consortium of investors including Portuguese retailer Sonae SGPS SA and company management.
The offer of €26 for each Musti share sent the stock up almost 30% at 10:59 a.m. in Helsinki. The buyer is a consortium comprising Sonae Holdings SA, Musti Chairman Jeffrey David, as well as board member Johan Dettel and Chief Executive Officer David Ronnberg, through Flybird Holding Oy, according to a statement on Wednesday.