Private Equity Firm Bansk Group to Acquire Pet Health Company PetIQ
PetIQ Stockholders to Receive $31.00 Per Share in an All-Cash Transaction Valued at Approximately $15 Billion
August 07, 2024 08:00 ET
EAGLE, Idaho and NEW YORK--(BUSINESS WIRE)--PetIQ, Inc. (NASDAQ: PETQ) ("PetIQ" or the "Company") today announced that it has entered into a definitive agreement with funds managed by Bansk Group ("Bansk") to be acquired in an all-cash transaction valued at approximately $15 billion.
Under the terms of the agreement, PetIQ stockholders will receive $31.00 per share in cash for each share of PetIQ common stock they own, representing a premium of approximately 21% to the closing price of PetIQ common stock on August 6, 2024. The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions, including the receipt of required regulatory approvals and PetIQ stockholder approval.
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