PetMed soars after disclosing $4-per-share buyout offer from investment firm
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PetMed Express shares surged after revealing a $4-per-share buyout offer from SilverCape Investments, a 125% premium over its previous closing price. The board will evaluate the offer. PetMed, public since 1997, has faced declining sales and unprofitability, with shares down 60% this year and 96% since 2018.
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