Blackstone to Buy Rover Group for $2.3 Billion
November 29 2023 - 9:41AM
Dow Jones News
By Colin Kellaher
Rover Group has agreed to be acquired by private-equity firm
Blackstone in a deal that values the online pet-care marketplace at
about $2.3 billion.
Rover on Wednesday said Blackstone is paying $11 a share in
cash, a 29% premium to Tuesday's closing price of $8.50 for the
Seattle company.
Rover said the agreement includes a 30-day "go-shop" period
under which the company and its advisers can seek a better
deal.
The transaction is slated to close in the first quarter of
2024.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
November 29, 2023 09:26 ET (14:26 GMT)
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