Greencross merger lifts risk profile

Greencross's market cap is set to swell as the veterinary services group pursues a merger with privately-owned pet products retailer Mammoth Pet Holdings.

The market capitalisation of Greencross (GXL) is set to swell by nearly 2.5 times as the veterinary services group pursues a merger with privately-owned pet products retailer Mammoth Pet Holdings.

The massive dilution sent the stock falling 2.8% this morning to a 2½-week low of $6.30 as Greencross will issue Mammoth owners around 52.6 million shares to buy the company.

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