Shareholders Foundation, Inc.

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 mail@shareholdersfoundation.com 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.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com