Investors are barking at PetSmart to consider some initiatives to return more money to shareholders, calls that could lead to a sale of the pet products retailer. Earlier this month, Jana Partners said it had taken a 9.9% stake in PetSmart, and that it wanted to talk to management about alternatives that could include a sale of the company. That prompted long-time shareholder Longview Asset Management to weigh in, saying that, now that the company was effectively in play, it ought to strongly consider Jana's request. Longview added that it felt that a sale to a private buyer, rather than a strategic player, would command a heftier price.
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