PetSmart, Inc. (NASDAQ:PETM) Investor Alert: Lawsuit in Effort to Halt Takeover
A lawsuit was filed by investor in shares of PetSmart, Inc. (NASDAQ:PETM) in effort to stop the proposed takeover and NASDAQ:PETM stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWire) -- 01/05/2015 --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.
Investors who purchased shares of PetSmart, Inc. (NASDAQ:PETM) and currently hold any of those NASDAQ:PETM shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
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 31, 2014, NASDAQ:PETM shares closed at $81.30 per share.
Those who are current investors in PetSmart, Inc. (NASDAQ:PETM) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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View this press release online at: http://rwire.com/571410