PetSmart to Sell Itself to Investor Group for $8.7 Billion
PetSmart agreed on Sunday to sell itself to a group led by the investment firm BC Partners for about $8.7 billion, months after the retailer came under pressure from two hedge funds, reports The New York Times.
The agreement represents the biggest leveraged buyout of an American company of 2014.
JPMorgan Chase and the law firm Wachtell, Lipton, Rosen & Katz advised PetSmart. Simpson Thacher & Bartlett and Ernst & Young provided advice, while Citigroup, Nomura, Jefferies, Barclays and Deutsche Bank provided debt financing.
