PetMed Express, Inc.
(NASDAQ:PETS) stock is trading higher on Monday following the public release of a revised acquisition proposal from SilverCape Investments Limited.
Revised Acquisition Proposal Details For PetMed Express SilverCape, a Singapore-based single-family office and activist investor that owns about 12% of PetMed Express, released an open letter to the company's board of directors.
The revised proposal outlines a cash acquisition of all outstanding shares of common stock for $3 per share with no financing contingency.
The offer represents an approximate 70% premium over the company's previous closing share price of $1.76 on Friday.
