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.