Shares in pet and vet group Greencross are going nuts

Gary Gershoff/Getty Images for the American Kennel Club

Shares in Greencross are soaring after reports an investment bank has made an on market raid on behalf of a private equity group.

The Australian Financial review says Credit Suisse is running the raid on the pet shop and veterinary group.

It was reportedly offering $5.79 per share, seeking up to to 14.99% of the company.

A short time ago, the shares were at $5.84, up 26% on yesterday’s close.

Greencross today noted the reports and said it had appointed Macquarie Capital and Allier Capital as financial advisers.

“Greencross directors recommend shareholders take no action in response to the approach,” the company said in a statement to the market.

The private equity group behind the raid hasn’t been named.

There’s more HERE.

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