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Omaha Steve

(99,077 posts)
Sun Dec 14, 2014, 10:04 PM Dec 2014

PetSmart buyout to fetch $8.2 billion

Source: USA Today

John Waggoner

PetSmart is about to get a new owner, and this is no shelter rescue.

The pet products retailer is being acquired for about $8.2 billion in what would be the biggest private equity deal of 2014. For PetSmart's stockholders, the sale works out to $83 a share in cash.

The long-running bull market and resulting surge in stock prices has reduced the attractiveness of debt-backed private equity deals such as this. A group of investors that was led by BC Partners and included Longview Asset Management, which has a 9% stake in PetSmart, banded together to make this one happen.

Activists have been pushing for change at the company, where sales have been suffering as Amazon and other online competitors have been biting away at its market share. The stock suffered badly after a disappointing first-quarter earnings report.

FULL story at link.


Report: PetSmart to b e taken private
(Photo: MATT YORK, Associated Press)


Read more: http://www.usatoday.com/story/money/markets/2014/12/14/deal-takeover-petsmart-bc-partners-investor/20403859/

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PetSmart buyout to fetch $8.2 billion (Original Post) Omaha Steve Dec 2014 OP
Activists and "asset" management... SoapBox Dec 2014 #1
Yep, the same way the mob did things, even have the politicians in their pockets project_bluebook Dec 2014 #2
Yes!! KT2000 Dec 2014 #3
My first thought as well. Javaman Dec 2014 #5
I worked for PetSmart about 15 years ago as a retail manager davidpdx Dec 2014 #4
can't be good news blkmusclmachine Dec 2014 #6
Nihilists in suits and ties Demsrule86 Dec 2014 #7

SoapBox

(18,791 posts)
1. Activists and "asset" management...
Sun Dec 14, 2014, 11:43 PM
Dec 2014

Well we can kiss this business good bye.

The Banksters will wring out every penny, sell the assets and properties and then file it for liquidation.

Too bad more Americans will be out of work.

 

project_bluebook

(411 posts)
2. Yep, the same way the mob did things, even have the politicians in their pockets
Mon Dec 15, 2014, 01:27 AM
Dec 2014

only now they wear $10,000 suits and do their work using the biggest casino ever, the stock market.

KT2000

(20,544 posts)
3. Yes!!
Mon Dec 15, 2014, 04:05 AM
Dec 2014

That is what I have been saying - our economy is being run on mob "principles." The latest blackmail by Citigroup was most brazen - for all to see.

davidpdx

(22,000 posts)
4. I worked for PetSmart about 15 years ago as a retail manager
Mon Dec 15, 2014, 09:14 AM
Dec 2014

As you can imagine, overworked and underpaid. It will only get worse with the new masters.

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