Greencross has gone into a trading halt with a 100% takeover offer expected

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Petcare company Greencross has gone into a trading halt and is expecting a takeover offer.

Its shares last traded at $4.54, down from a 12-month high of $6.56.

The company says it is “in discussions regarding a potential acquisition” of 100% of its shares.

“Owing to the state of negotiations, the precise timing of any announcement is uncertain,” Greencross says.

Greencross, which includes Petbarn and Greencross Vets, in August reported a 50.9% fall in full year profit to $20.66 million.

The result was dragged down by the veterinary business and by the impairment of some assets.

In February, the company announced the appointment of a new CEO, Simon Hickey.

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