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Strategies & Market Trends : Value Investing
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To: Brendan W who wrote (13800)2/2/2002 11:42:58 AM
From: Brendan W  Read Replies (1) of 78701
 
PETC will return.

PETC was a price-to-sales play discussed on the thread that was bought out.

sec.gov

From the WSJ:
>>>
The offering will constitute 26% of the 55.8 million shares outstanding, suggesting a total market capitalization of as high as $1.12 billion.
....The company intends to use the net proceeds from the IPO to redeem its outstanding shares of preferred stock, most of which are owned by BD Recapitalization Holdings, an entity controlled by affiliates of Leonard Green & Partners LP, by affiliates of TPG Partners III and by affiliates of Trust Company of the West.

In May 2000, Petco agreed to be acquired by investment firms Leonard Green & Partners LP and Texas Pacific Group for $464 million plus the assumption of about $125 million in debt, in a move to take the company private. At the time, Petco blamed a weak stock despite strong earnings for its decision to go private.
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