PetIQ to Be Acquired by Bansk Group in $1.5 Billion Deal; Shares Jump-February 2024-www.financetom.com

PetIQ to Be Acquired by Bansk Group in $1.5 Billion Deal; Shares Jump

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PetIQ to Be Acquired by Bansk Group in $1.5 Billion Deal; Shares Jump

Aug 7, 2024 5:53 AM

08:34 AM EDT, 08/07/2024 (MT Newswires) -- PetIQ ( PETQ ) has agreed to be acquired by Bansk Group for $31 per share in an all-cash deal valued at approximately $1.5 billion, the companies said Wednesday.

The transaction is expected to close in Q4, subject to PetIQ ( PETQ ) stockholder approval and other customary conditions, according to the joint statement.

Following the acquisition, PetIQ ( PETQ ) will delist from Nasdaq and operate privately under its current executive team, the companies said.

PetIQ ( PETQ ) shares were 48% higher in premarket trading.

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