Group buys PetSmart for $8.3B


BLOOMBERG: The country’s largest pet-supply chain was sold for $83 a share to BC Partners.

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BLOOMBERG: The country’s largest pet-supply chain was sold for $83 a share to BC Partners.

BC Partners beat out other bidders, including Leon Black’s Apollo Global Management and KKR & Co., during an auction that came down to negotiations over the weekend, people with knowledge of the matter said. BC Partners struck a deal on Sunday, after making a final offer a day earlier that topped other bids, the people said, asking not to be identified because the information is private.

“It was a very competitive auction,” Raymond Svider, a managing partner at BC Partners, said in a telephone interview. “We feel fortunate.”

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