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Blackstone to Buy Rover Group for $2.3 Billion

Provided by Dow Jones

Nov 29, 2023 2:26pm

By Colin Kellaher

Rover Group has agreed to be acquired by private-equity firm Blackstone in a deal that values the online pet-care marketplace at about $2.3 billion.

Rover on Wednesday said Blackstone is paying $11 a share in cash, a 29% premium to Tuesday's closing price of $8.50 for the Seattle company.

Rover said the agreement includes a 30-day "go-shop" period under which the company and its advisers can seek a better deal.

The transaction is slated to close in the first quarter of 2024.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

November 29, 2023 09:26 ET (14:26 GMT)

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