Largest #PE #LBO of 2014: $PETM // Transaction valued at $8.7B // $83/share cash // 9.1x #EBITDA


PHOENIX & NEW YORK–(BUSINESS WIRE)–Dec. 14, 2014– PetSmart, Inc.(NASDAQ:PETM) today announced that it has entered into a definitive agreement to be acquired by a consortium led by BC Partners, Inc. at a price of $83.00 per share in cash, representing a premium of approximately 39% over PetSmart’s unaffected closing share price on July 2, 2014. The consortium includes Funds advised by BC Partners (“the BC Funds”), alongside several of its limited partners, including La Caisse de dépôt et placement du Québec (“La Caisse”) and StepStone. Longview Asset Management, which owns or manages approximately 9% of PetSmart’s outstanding shares has committed … Continue reading Largest #PE #LBO of 2014: $PETM // Transaction valued at $8.7B // $83/share cash // 9.1x #EBITDA

$WAG #CEO Greg Wasson Retires; Largest Shareholder & Boots Alliance Chairman Mr. Stephano Pessina Named Interim Chief


From Walgreen’s SEC Section 425 filing posted on December 11, 2014: Dear Walgreens Shareholder: On November 24, 2014, we mailed to you a definitive proxy statement/prospectus (the “Proxy Statement”) for the Special Meeting of Shareholders of Walgreen Co. (“Walgreens” or the “Company”), to be held on December 29, 2014 relating to, among other things, the reorganization of Walgreens into a holding company structure and the issuance of shares of common stock in connection with the acquisition of the remaining 55% of Alliance Boots GmbH that Walgreens does not currently own. The following information supplements the Proxy Statement and should be read in … Continue reading $WAG #CEO Greg Wasson Retires; Largest Shareholder & Boots Alliance Chairman Mr. Stephano Pessina Named Interim Chief

Corporate #Stewardship Decisions // Reinvest Capital or Return to Shareholders? // #CEO & #CFO’s Choose Wisely


Commentary from Martin Schroeter, CFO of IBM (quoted) Analysis by Ryan Hunter (italicized) Note: Mr. Schroeter’s commentary was prompted in part by coverage and commentary from @andrewrsorkin on @CNBC “There has been a growing debate about whether companies should: 1. Reinvest for growth or 2. Return capital to shareholders …with the assertion that one precludes the other.  It is a false choice, as demonstrated year in and year out by companies with sustainable models.” Counterpoint This is a fundamental trade-off companies must judiciously contemplate in order to grow their business; and serve their shareholders. Opinions regarding which is option is “right” are … Continue reading Corporate #Stewardship Decisions // Reinvest Capital or Return to Shareholders? // #CEO & #CFO’s Choose Wisely