PetSmart Reports Completion Of Acquisition By A Consortium

(RTTNews) - PetSmart, Inc. (PETM) reported the completion of its previously announced acquisition by a consortium led by BC Partners and including La Caisse de dépôt et placement du Québec, StepStone and Longview Asset Management.

The acquisition was announced on December 14, 2014, and the transaction closed and became effective today.

PetSmart shareholders will receive $83.00 per share in cash, representing a premium of around 39 percent over PetSmart's unaffected closing share price on July 2, 2014.

The transaction was approved by PetSmart stockholders at a special meeting of stockholders held on March 6.

As a result of the acquisition, the common stock of PetSmart will no longer be listed for trading on NASDAQ and PetSmart expects no further trading after the close of business on March 11.