(RTTNews) - PetMed Express, Inc. (PETS), a pet healthcare company, announced on Tuesday the receipt of a cash-only, non-binding, conditional proposal from SilverCape Investments Limited to acquire all outstanding shares of the company at $3.00 per share.
PetMed previously received a similar proposal from SilverCape in December 2025, for the acquisition of the company's common shares at $4.00 per share. However, after extensive discussions, SilverCape announced the withdrawal of the proposal in April 2026, citing a refusal to sign a non-disclosure agreement containing a customary standstill provision.
The company stated that the Board had not reached any conclusion on the latest proposal and remains focused on overseeing core operations and maximizing long-term value for shareholders.
PETS closed Tuesday's trade at $1.92, up 5.49%. In the pre-market, shares are trading down 1.04% to $1.90.
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