Australia's Coles rises as grocer ends talks with TPG Capital over Greencross buy

Coles

17/07/2026 02:43

Updates
** Shares of Coles Group COL.AX rise as much as 5% to A$23.68, their largest intraday pct gain since March 2
** Stock hits its highest level since July 9
** Coles, Australia's no.2 grocer, ceases discussions with U.S. private equity firm TPG Capital for the potential acquisition of pet and vets business Greencross Pet Wellness
** Local media reports said TPG was likely aiming for an A$4 billion ($2.80 billion) deal
** We believe this (end in deal talks) is at least partly due to the negative investor feedback surrounding the deal - Citi
** Coles stock up 9.8% YTD, including the day's moves
     
($1 = 1.4300 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))