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December 16, 2014

PetSmart is being sold for $8.7B

NEW YORK (AP) — PetSmart is being sold to a group of investors led by buyout firm BC Partners for $8.7 billion.

The Phoenix-based pet store retailer says the investors have agreed to pay $83 per share in cash to the company. That's a 39 percent increase from its closing price July 2 before the company announced it was looking to sell. The price is also a 7 percent increase from PetSmart's closing price Friday.


 
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