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Thursday, July 3, 2014

Deals of the day- Mergers and acquisitions, (NASDAQ: PETM)

The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Thursday:** India's new government is likely to sell a 5 percent stake in state-run Steel Authority of India Ltd in the last week of this month, people directly involved in the process said, kicking off what is set to be a busy divestment schedule.** Activist hedge fund Jana Partners LLC said it planned to ask PetSmart Inc to explore a sale. Jana Partners reported a 9.9 percent stake in the company in a regulatory filing and said it expects to hold discussions with PetSmart's management and board, shareholders and other interested parties.

PetSmart, Inc. supplies products, services and solutions for the lifetime needs of pets. Shares of PETM traded higher by 12.5% or $7.477/share to $67.28. In the past year, the shares have traded as low as $55.00 and as high as $77.32. On average, 2337020 shares of PETM exchange hands on a given day and today's volume is recorded at 16157984.