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It's official: PetSmart to go private
PetSmart’s investors have officially approved a buyout of the company by a private equity firm, setting up a payout to stockholders of $83 per share.
In December, PetSmart announced it accepted a bid on the company for $8.7 billion. The company expects the transaction to close on March 11. The buyout means PetSmart will become a private company.
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Loblaw spends big to maintain lead
Loblaw is already Canada’s largest retailer and it plans to stay that way by spending more than $1 billion this year on new stores, e-commerce expansion and supply chain improvements.
As Canada's largest network of corporate and independently owned retail stores and formats, each employing between 20 and 300 employees, Loblaw's investment is expected to create more than 20,000 jobs through store staffing and construction.

