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PetSmart, Inc. (NASDAQ:PETM) Investor Files Lawsuit Against Proposed Acquisition

  • If you purchased shares of PetSmart, Inc. (NASDAQ:PETM) and currently hold any of those NASDAQ:PETM shares, you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
PetSmart, Inc.
Security
NASDAQ: PETM

Case Name
PetSmart Deal Case 12/26/2014
Type of Lawsuit
Mergers and Acquisition
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Summary

December 26, 2014 (Shareholders Foundation) - An investor, who currently holds shares of PetSmart, Inc. (NASDAQ:PETM), filed a lawsuit in effort to halt the proposed takeover of PetSmart, Inc. by BC Partners, Inc for $83.00 per share.
On December 14, 2014, PetSmart, Inc. (NASDAQ:PETM) announced that it has entered into an agreement to be acquired by a consortium led by BC Partners, Inc. at a price of $83.00 per share in cash.

However, the plaintiff claims that the offer is too low and undervalues PetSmart, Inc. Indeed, PetSmart’s performance improved recently. . In addition, the plaintiff claims that the process is also unfair to NASDAQ:PETM stockholders. Indeed, Longview Asset Management, which owns or manages approximately 9% of PetSmart’s outstanding shares has already committed to vote in favor of the transaction.

On December 26, 2014, NASDAQ:PETM shares closed at $81.21 per share.