Rover Group Announces Binding Scheme Implementation Deed with Mad Paws, Australia’s Leading Online Pet Care Marketplace

Rover Group Announces Binding Scheme Implementation Deed with Mad Paws, Australia’s Leading Online Pet Care Marketplace

The transaction would mark Rover’s expansion into Australia, adding Mad Paws’ network of over 300,000 pet parents and 70,000 pet care providers to the Rover Group family

Mad Paws to be acquired by US-based Rover for $62 million

Pet services company Mad Paws has entered into an agreement to be acquired by US-based Rover Group for approximately $62 million. As part of the proposed deal, Rover will acquire 100 per cent of the shares on issue in Mad Paws by way of a scheme of arrangement. In return, each Mad Paws shareholder will receive $0.14 per share in cash. The consideration implies a transaction equity value of $62 million and represents a premium of 87 per cent to t…