PETCO Animal Supplies, Inc. Receives Early Termination of Hart-Scott-Rodino Act Waiting Period for Its Proposed Acquisition
08 8월 2006 - 6:55AM
PR Newswire (US)
SAN DIEGO, Aug. 7 /PRNewswire-FirstCall/ -- PETCO Animal Supplies,
Inc. (NASDAQ:PETC), a leading specialty retailer of premium pet
food, supplies and services, announced today that it has received
early termination of the waiting period under the Hart-Scott-Rodino
Antitrust Improvements Act of 1976 in connection with the company's
pending acquisition by an affiliate of private equity investment
firms Texas Pacific Group and Leonard Green & Partners, L.P.
for $29.00 per share in cash, or a total transaction value of
approximately $1.8 billion (including assumed debt). The
transaction remains subject to the receipt of stockholder approval
as well as the satisfaction of customary closing conditions. The
transaction is expected to close by the fourth quarter of 2006.
About PETCO Animal Supplies, Inc. PETCO is a leading specialty
retailer of premium pet food, supplies and services. PETCO's vision
is to best promote, through its people, the highest level of well
being for companion animals, and to support the human-animal bond.
It operates more than 800 stores in 49 states and the District of
Columbia, as well as a leading destination for online pet food and
supplies at http://www.petco.com/. Since its inception in 1999, The
PETCO Foundation, PETCO's non-profit organization, has raised more
than $30 million in support of more than 3,500 non-profit
grassroots animal welfare organizations around the nation. About
Leonard Green & Partners, L.P. Leonard Green & Partners is
a Los Angeles-based private equity firm specializing in organizing,
structuring and sponsoring management buy-outs, going-private
transactions and recapitalizations of established public and
private companies. Leonard Green & Partners is the largest
private equity firm in Southern California managing approximately
$3.7 billion of private equity capital. Visit
http://www.leonardgreen.com/. About Texas Pacific Group Texas
Pacific Group, based in Fort Worth, TX, is a private investment
firm with more than $30 billion of assets under management. TPG
invests in world-class franchises across a range of industries and
has extensive experience with public and private investments
executed through leveraged buyouts, recapitalizations, take private
transactions, spinouts, joint ventures, and restructurings. Visit
http://www.texaspacificgroup.com/. Forward-Looking Statements
Certain statements in this news release that are not historical
fact constitute "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements typically are identified by the use of
terms such as "may," "should," "might," "believe," "expect,"
"anticipate," "estimate" and similar words, although some may be
expressed differently. Forward-looking statements in this release
include, but are not limited to, statements regarding receipt of
approvals and closing of the proposed merger transaction. These
statements are based on our management's current expectations.
There are a number of risks and uncertainties that could cause our
actual results to differ materially. For example, we may be unable
to obtain stockholder approval required for the merger. The merger
may involve unexpected costs. Our business may suffer as a result
of uncertainty surrounding the merger. Certain other risks
associated with our business are discussed from time to time in the
reports filed by PETCO with the Securities and Exchange Commission,
including the Annual Report on Form 10-K for the fiscal year ended
January 28, 2006. PETCO disclaims any intent or obligation to
update these forward-looking statements. Additional Information and
Where to Find It In connection with the proposed merger, PETCO will
file a proxy statement with the Securities and Exchange Commission.
INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THE PROXY
STATEMENT WHEN IT BECOMES AVAILABLE, BECAUSE IT WILL CONTAIN
IMPORTANT INFORMATION. Investors and security holders may obtain a
free copy of the proxy statement (when available) and other
documents filed by PETCO at the Securities and Exchange
Commission's web site at http://www.sec.gov/. PETCO and its
directors, executive officers and other members of its management
and employees may be deemed to be participants in the solicitation
of proxies from its stockholders in connection with the proposed
merger. Information concerning the interests of PETCO's
participants in the solicitation is set forth in PETCO's proxy
statements and Annual Reports on Form 10-K, previously filed with
the Securities and Exchange Commission, and in the proxy statement
relating to the merger when it becomes available. DATASOURCE: PETCO
Animal Supplies, Inc. CONTACT: Investors, Chaith Kondragunta,
Director, Investor Relations, +1-858-202-7846, or Media, Kevin
Whalen, VP, Communications, +1-858-202-7843, both of PETCO Animal
Supplies, Inc.; or Owen Blicksilver of Owen Blicksilver PR,
+1-516-742-5950, for Texas Pacific Group and Leonard Green &
Partners Web site: http://www.leonardgreen.com/ Web site:
http://www.texaspacificgroup.com/ Web site: http://www.petco.com/
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