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Stock Market & Financial Investment News

News Breaks
July 29, 2014
09:10 EDTPETMJANA sends letter to PetSmart urging full strategic review
JANA Partners, owner of 9.8% of PetSmart's outstanding shares, sent a letter to the company dated July 29, which read in part: "While PetSmart was once an industry leader, it has long trailed most of its peers in shareholder value creation and failed to keep pace with its competitors, and shareholders have lost confidence that it can reverse course. We have therefore called on PetSmart to conduct a full review of all strategic alternatives including a sale. While we typically work constructively with boards and focus primarily on changes that can be made while companies remain public, given PetSmartís chronic underperformance and significant private equity interest in the Company, a sale in this case very likely offers the highest risk-adjusted return for shareholders...should PetSmart fail to do so, we will not hesitate to seek significant Board change at the next annual meeting."
News For PETM From The Last 14 Days
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September 22, 2014
06:11 EDTPETMPetSmart appoints Helen Wallace as Chief Accounting Officer
PetSmart appointed Helen Wallace as Chief Accounting Officer and principal accounting officer. Ms. Wallace is expected to assume her responsibilities on or about October 6. Prior to joining the company, Ms. Wallace served as Senior Vice President, Finance / Principal Accounting Officer of Designer Shoe Warehouse.

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