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Monday, July 7, 2014

PetSmart evaluating changes to capital structure, (NASDAQ: PETM)

PetSmart Inc said it is reviewing potential changes in its capital structure, days after activist hedge fund Jana Partners LLC said it planned to ask the pet products retailer to explore a sale.The company said on Monday it was evaluating changes, with a focus on returning capital to shareholders. ( Partners, PetSmart's largest shareholder with a 9.9 percent stake, also said on Thursday it would discuss the company's capital structure, including returns to shareholders, with the management and board, shareholders and other interested parties.Jana Partners was not immediately reachable for comment on Monday.

PetSmart, Inc. supplies products, services and solutions for the lifetime needs of pets. Shares of PETM remained unchanged at $67.28. In the past year, the shares have traded as low as $55.00 and as high as $77.32. On average, 2594780 shares of PETM exchange hands on a given day and today's volume is recorded at 15707.