PetSmart To Explore Sale Amid Investor Pressure
PetSmart plans to explore a potential sale of the company, people familiar with the matter said on Tuesday, after several shareholders led by activist investor Jana Partners LLC pressured the pet supply retailer to sell itself. PetSmart, which has a market capitalization of nearly $7 billion, could announce the intention to explore strategic alternatives as soon as this week, although the timing could yet change.
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