PetSmart Attracts Bidders as Pet Ownership Reaches All-Time High

PetSmart is back in the spotlight, even though it won't report earnings until November 23. A report this morning says a group of private equity bidders, including KKR and Carlyle, are eyeing the pet retail products titan in a potential LBO that would be worth billions. That would reverse a 5% slide for PetSmart stock this year -- but it won't mean PetCo will be a bidder. The pet retailer -- already bought by private equity firm Leonard Green -- is barred from the auction, according to the report. However, a PetSmart sale would mean big business for PE firms, with pet ownership at an all-time high.

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