Robert Olstein Comments on PetSmart

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Mar 27, 2015

On December 14, 2014, PetSmart (PETM) announced that it had entered into definitive agreement to be acquired by private equity firm BC Partners for $83 per share in cash. The Fund sold its holdings in PetSmart as the price of the company’s stock approached the announced acquisition price representing a substantial premium to the Fund’s average cost for PetSmart.

From Robert Olstein (Trades, Portfolio)’s The Olstein Strategic Opportunities Fund’s Q4 2014 Letter to Shareholders.