Seeking Alpha

Jana Partners turns up the heat on PetSmart

  • Jana Partners hammers away at PetSmart (PETM) in a new letter to the company's board of directors.
  • The investment firm says it's "stunned" that PetSmart wants to skip a review of potential acquirers to jump straight into a recapitalization plan.
  • Jana holds 9.8% of PetSmart and has put the retailer on notice it will push for board changes if a full strategic review isn't implemented.
  • SEC filing
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