PetSmart Rallies On Longview Stake; Does Jana Have Safeway in Mind?

Mark Melin

Published onJuly 7, 2014

Updated on May 13, 2021

PetSmart, Inc. (NASDAQ:PETM) shares are up 2.3 percent on the day after Longview Asset Management revealed a stake in the firm. Longview’s investment comes on the heals of Barry Rosenstein’s Jana Partners establishing a stake in PetSmart and sharks may be smelling blood in the water.

Board of directors' quick reaction to Jana Partners stake in PetSmart

After Jana Partners acquired a 10% stake in PetSmart, Inc. (NASDAQ:PETM), the board of directors quickly reacted, reviewing potential changes to the company’s capital structure that could return cash to shareholders, regulatory filings reveal. When Jana...

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Mark Melin

Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.

PetSmart Rallies On Longview Stake; Does Jana Have Safeway in Mind?

Board of directors' quick reaction to Jana Partners stake in PetSmart

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