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Sunday, December 14, 2014

BC Partners to acquire PetSmart for $8.7 billion, (NASDAQ: PETM)

Pet supply retailer PetSmart Inc said on Sunday it had agreed to sell itself to a private equity consortium led by BC Partners Ltd for $8.7 billion, in the largest leveraged takeover of the year. PetSmart said BC Partners, as well as co-investors that include La Caisse de d�p�t et placement du Qu�bec and StepStone, have signed an agreement to purchase the company for $83 per share. Longview Asset Management, which has a 9 percent stake in PetSmart, will roll a third of that into the deal.

PetSmart, Inc. (PetSmart) is a specialty provider of pet products and services in North America. Shares of PETM fell by 0.98% or $-0.77/share to $77.67. In the past year, the shares have traded as low as $55.00 and as high as $79.68. On average, 919814 shares of PETM exchange hands on a given day and today's volume is recorded at 833052.