PetMed up after $64 million buyout proposal from SilverCape
BUZZ-PetMed up after $64 million buyout proposal from SilverCape ** Shares of PetMed Express PETS.O up ~9% at $1.98
** The pet pharmacy firm says it received an unsolicited acquisition proposal from SilverCape Investments Ltd at a value of about $64 million, offering $3/share in cash
** SilverCape previously offered $4/share in December 2025, but deal fell apart in April following negotiations. PETS has fallen 39% since the initial deal announcement
** The latest offer provides a 65% upside to the stock's last close
** PETS says it did not reach any determination regarding SilverCape's latest proposal, and there can be no assurance that any transaction will result
** Also had received a $4.25/share cash buyout deal by Cardone Ventures, backed by billionaire investor Grant Cardone, in December 2025
** Up to Monday's close, stock has fallen ~43% YTD
(Reporting by Neil J Kanatt in Bengaluru)
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PetMed up after $64 million buyout proposal from SilverCape