PetIQ surges on $1.5 bln take-private deal with Bansk Group

PetIQ

07/08/2024 15:02

** Shares of pet health firm PetIQ  PETQ.O  rise 48% to more
than three-year high of $30.47 
    ** Consumer health-focused private equity firm Bansk Group
will acquire PETQ for about $1.5 billion in cash
    ** Deal gives Bansk Group access to PETQ's products,
including over-the-counter medications, diagnostic tests and
grooming services
    ** Bansk Group will pay $31 for each PETQ share held,
representing a premium of 51% to stock's previous close
    ** Deal is expected to close in Q4 2024
    ** Including session's gains, stock up ~54% YTD 

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))