PetSmart Inc. is again eyeing on the rich asset of Petco Holdings Inc to bring itself among the line of top pet suppliers in the U.S pet Industry. Reuter sources reports that recently both companies approached each other after the halt of merger talks that emerges last year. Last year PetSmart agreed to buyout to consortium led by BC Partners Ltd for $8.7 billion, including debt, which it thinks was a wise decision at that time.
PetSmart abondoned a deal with Petco last year owing to the fact that regulators might hinders in the way of the deal and also it was not in favor of disclosing its confidential information to its biggest competitor, unveiled by PetSmart regulatory filing in January.
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Last month Pecto applied for an IPO that could make the firm worth between $5 billion and $6 billion, including debt. At the same time, owners of the firm, TPG Capital LP and Leonard Green & Partners LP, seeking a potential buyer for Petco and are in discussions with several private equity firms, including Apollo Global Management LLC (APO.N) and Bain Capital LLC, about such a deal, according to Reuter reports.
Read the full story at Economic News Daily, by Hazel Wolfe
PetSmart
