April 18, 2024 7:59 pm
Facebook Twitter Youtube Instagram Linkedin
Rose Law Group

PetSmart agrees to be sold for $8.7 billion

PetSmart

PetSmartRuss Wiles, The Republic | azcentral.com

PetSmart Inc., Arizona’s iconic pet-supplies retailer and one of the state’s largest employers, has agreed to be sold for $8.7 billion.

The Phoenix-basePetSmartd company, feeling pressure in the increasingly competitive market for pet food and services, had been reviewing its options for the past several months. The purchase by a new ownership group could chart a different direction for a retailer that counts thousands of Arizona employees and tens of thousands of customers.

Its board agreed unanimously to a purchase by a consortium led by London-based BC Partners in what could be the largest private-equity deal of the year.

The investor group agreed to pay $83 a share, according to PetSmart’s statement released Sunday. That’s a premium of about 7 percent over Friday’s closing price of $77.67.

Continued:

Share this!

Additional Articles
News Categories

Get Involved

Stay Informed

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

learn more

Recent Articles

Post Calendar

Rose-Law-Group-RCF-Logo-FINAL-LG-png.png
Facebook Twitter Youtube Instagram Linkedin
© 2024 Rose Law Group Reporter

Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.