Market Overview

PetSmart Shares Jump Amid Bidding Rumors

Related PETM
What Everyone's Saying About Under Armour's New CFO
Under Armour's CFO Swap Isn't Making Piper Jaffray Buy In...Yet
Consumer Edge Research dissects consumer price trends (Seeking Alpha)

PetSmart, Inc (NASDAQ: PETM) moved higher Monday amid bidding rumors. DealReporter noted that possible suitors are currently setting up financing, which prompted the stock to jump more than 1 percent.

Sources told DealReporter that bidders are expected to bring proposals around Thanksgiving and that firms are speaking to lenders to secure financing ahead of submitting final bids.

The company put itself on the block in August after being pressured by Jana Partners.

PetSmart is scheduled to release its Q3 earnings on Tuesday.

PetSmart closed Monday at $73.61, up 1.06 percent.

Posted-In: dealREPORTER Jana PartnersNews Rumors


Related Articles (PETM)

View Comments and Join the Discussion!