Wolf Popper LLP Investigates Claims That the Proposed Acquisition of PetSmart, Inc. May Not Be In the Best Interests of Its Investors

NEW YORK, Dec. 15, 2014 /PRNewswire/ -- Wolf Popper LLP is investigating claims on behalf of investors in PetSmart, Inc. PETM, concerning the proposed acquisition of PetSmart by a consortium of buyers led by private equity firm BC Partners, Inc.  The consortium includes Funds by BC Partners, alongside several of its limited partners, including La Caisse de depot et placement du Quebec and StepStone.  In addition, LongView Asset Management, which owns or manages approximately 9% of PetSmart's outstanding shares has agreed to take the $83.00 per share consideration for two thirds of its stake and roll over the remaining third of its stake.  PetSmart shareholders seeking more information about this acquisition are advised to contact Fei-Lu Qian at (212) 759-4600 or fqian@wolfpopper.com.

The investigation concerns whether the PetSmart directors are breaching their fiduciary duties by failing to adequately maximize shareholder value.  Under the terms of the merger agreement, PetSmart shareholders will receive $83.00 in cash for each share of PetSmart they own.  The proposed transaction has an equity value of $8.3 billion.  The offer price represents a premium of just 6.9% to the closing price on December 12, 2014.

Wolf Popper LLP has extensive experience representing investors in mergers and acquisition lawsuits and has successfully ensured that investors receive the maximum compensation.  Twelve Wolf Popper attorneys were named Rising Stars or Super Lawyers in the 2014 Super Lawyers New York City Metro Edition, including Wolf Popper partner Carl Stine, who was included in the Super Lawyers Top 100 List for the New York City Metro area.  View Wolf Popper attorney biographies at www.wolfpopper.com.

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SOURCE Wolf Popper LLP