Deals
PetSmart Will Be Acquired for $8.3 Billion by BC Partners
This article is for subscribers only.
PetSmart Inc., the largest pet-store chain in the U.S., agreed to be bought by a group led by BC Partners for about $8.3 billion in the biggest leveraged deal for an American company this year.
The group will pay $83 a share, according to a statement yesterday. That’s about 39 percent more than the company’s price on July 2, before activist investor Jana Partners began pushing for the sale. Including debt, the total value of the deal is about $8.7 billion.