Petsmart (PETM)

[jimmybob]

PetSmart unlikely to receive higher takeover bid, says RW Baird
RW Baird analyst Peter Benedict says PetSmart is unlikely to receive a higher takeover bid compared to the $83 per share that BC Partners is paying to take the company private. Benedict notes that PetSmart had been in a process of reviewing multiple bids before last night's merger announcement. He raised his price target for the stock to $83 from $78 and keeps a Neutral rating on the pet store owner