Jana Invests In PetSmart, Eyes Sale

Jul 7 2014 | 8:36am ET

Activist hedge fund Jana Partners has bought up nearly 10% of PetSmart Inc.’s shares, demanding that the retailer begin looking for a buyer.

The New York-based hedge fund took a 9.9% stake in PetSmart, making it the troubled company’s largest shareholder. The firm said it would hold talks with the company’s management, as well as with fellow shareholders and potential acquirers.

Jana said it wished to discuss a “significant return of capital to shareholders.”

“PetSmart welcomes open communications with its shareholders and values constructive input toward the goal of enhancing shareholder value,” the company said.

In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...


CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...


FINalternatives Trending

From the current issue of