Consortium Led by BC Partners to Acquire PetSmart Inc. for $8.7 Billion
12.15.14
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Simpson Thacher is representing a consortium led by BC Partners, Inc. in connection with the announced acquisition of PetSmart Inc. (NASDAQ: PETM) for approximately $8.7 billion. The consortium includes Funds advised by BC Partners, alongside several of its limited partners, including La Caisse de dépôt et placement du Québec and StepStone. Longview Asset Management, which owns or manages approximately 9% of PetSmart's outstanding shares, has committed to vote in favor of the transaction and is participating in the consortium with respect to approximately one-third of its holdings. The transaction is expected to close in the first half of 2015.
PetSmart, Inc. is the largest specialty pet retailer of services and solutions for the lifetime needs of pets.
The Simpson Thacher team included Ryerson Symons, Ravi Purushotham, Isaac Gruber, Jun Won Kim (M&A); Ryan Bekkerus (Capital Markets); Jennifer Hobbs, Eli Isak and Richard Kim (Credit); Greg Grogan, Patricia Adams and Samantha Steinfeld (Executive Compensation and Employee Benefits); Krista McManus (Real Estate); Samantha Himelman (Intellectual Property); Michael Isby (Environmental); Michael Naughton (Competition); Gary Mandel and Jordan Tamchin (Tax).