Market Overview

PetSmart Shares Shoot Up On Jana Partners Disclosure

Share:
Related PETM
Earnings Scheduled For March 4, 2015
Keep an Eye on These 10 Stocks for March 4, 2015
PetSmart Posts Q4 Earnings Which Beats Market Expectations (GuruFocus)

On Thursday morning, Jana Partners disclosed that it has a 9.9 percent stake in PetSmart (NASDAQ: PETM) and intends to hold meetings with the company's board to discuss alternatives including a possible sale.

Jana Partners move to acquire 9.8 million shares, including 4.7 million options, comes on the belief that the company's shares were undervalued.

Shares of PetSmart closed Thursday at $67.28, up 12.5 percent.

Posted-In: News Movers

 

Related Articles (PETM)

Around the Web, We're Loving...