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

TPG Inc Class A

TPG Inc Class A

TPG

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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)


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