Tag Archives: mobile technology

Reading the M&A Tea Leaves

Few things can boost a company’s share price like a takeover bid.

Just ask PetSmart (NYSE: PETM) shareholders, who’ve watched the stock march higher since takeover speculation started swirling around the pet retailer five months ago.

The gains were capped by a 4.2% jump on Monday, after PetSmart agreed to an offer from private equity firm BC Partners. The $83.00-a-share bid represents a 39% premium over the stock’s closing price on July 2, the day before another private equity firm, Jana Partners, started leaning on PetSmart’s management to put up the “for sale” sign.

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