Petmed Express Shares Rise on Revised $3-a-share Buyout Offer from Silvercape

Dow Jones06-29

PetMed Express shares rose Monday after it received a revised offer from its largest shareholder, SilverCape Investments, to acquire the company for $3 a share in cash.

Shares of the online pet pharmacy were recently up about 22% at $2.15.

PetMed Express said the revised offer is lower than SilverCape's previous $4-a-share proposal made in December and values the online pet pharmacy at a premium to its recent closing price. SilverCape, which owns about 12% of PetMed, said the reduced price reflects what it described as the company's continued deterioration.

In a letter to the board, SilverCape criticized PetMed's performance and accused directors of failing to meaningfully engage with its earlier proposal or run a robust sale process after receiving acquisition interest.

SilverCape urged the board to negotiate the revised offer, arguing that taking the company private would provide immediate value to shareholders after years of declining share performance.

Write to Anvee Bhutani at anvee.bhutani@wsj.com

(END) Dow Jones Newswires

June 29, 2026 10:16 ET (14:16 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2647092377?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-06-29 22:16","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2647092377","market":"hk","top_or_hot":-1,"title":"Petmed Express Shares Rise on Revised $3-a-share Buyout Offer from Silvercape","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  <a href=\"https://laohu8.com/S/PETS\">PetMed Express</a> shares rose Monday after it received a revised offer from its largest shareholder, SilverCape Investments, to acquire the company for $3 a share in cash. \n</p>\n<p>\n  Shares of the online pet pharmacy were recently up about 22% at $2.15. \n</p>\n<p>\n  PetMed Express said the revised offer is lower than SilverCape's previous $4-a-share proposal made in December and values the online pet pharmacy at a premium to its recent closing price. SilverCape, which owns about 12% of PetMed, said the reduced price reflects what it described as the company's continued deterioration. \n</p>\n<p>\n  In a letter to the board, SilverCape criticized PetMed's performance and accused directors of failing to meaningfully engage with its earlier proposal or run a robust sale process after receiving acquisition interest. \n</p>\n<p>\n  SilverCape urged the board to negotiate the revised offer, arguing that taking the company private would provide immediate value to shareholders after years of declining share performance. \n</p>\n<p>\n  Write to Anvee Bhutani at anvee.bhutani@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 29, 2026 10:16 ET (14:16 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Petmed Express Shares Rise on Revised $3-a-share Buyout Offer from Silvercape</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPetmed Express Shares Rise on Revised $3-a-share Buyout Offer from Silvercape\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-06-29 22:16</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  <a href=\"https://laohu8.com/S/PETS\">PetMed Express</a> shares rose Monday after it received a revised offer from its largest shareholder, SilverCape Investments, to acquire the company for $3 a share in cash. \n</p>\n<p>\n  Shares of the online pet pharmacy were recently up about 22% at $2.15. \n</p>\n<p>\n  PetMed Express said the revised offer is lower than SilverCape's previous $4-a-share proposal made in December and values the online pet pharmacy at a premium to its recent closing price. SilverCape, which owns about 12% of PetMed, said the reduced price reflects what it described as the company's continued deterioration. \n</p>\n<p>\n  In a letter to the board, SilverCape criticized PetMed's performance and accused directors of failing to meaningfully engage with its earlier proposal or run a robust sale process after receiving acquisition interest. \n</p>\n<p>\n  SilverCape urged the board to negotiate the revised offer, arguing that taking the company private would provide immediate value to shareholders after years of declining share performance. \n</p>\n<p>\n  Write to Anvee Bhutani at anvee.bhutani@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 29, 2026 10:16 ET (14:16 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4200","symbol_name":"专卖店","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2647092377","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2647092377","pubTimestamp":1782742560,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"PetMed Express shares rose Monday after it received a revised offer from its largest shareholder, SilverCape Investments, to acquire the company for $3 a share in cash.Shares of the online pet pharmac","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4200":"专卖店","BK4122":"互联网与直销零售","PETS":"PetMed Express"},"translate_title":"Petmed Express股价因Silvercape修改后每股3美元的收购要约而上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PETS":0.9},"content_text":"PetMed Express shares rose Monday after it received a revised offer from its largest shareholder, SilverCape Investments, to acquire the company for $3 a share in cash. \n\n\n  Shares of the online pet pharmacy were recently up about 22% at $2.15. \n\n\n  PetMed Express said the revised offer is lower than SilverCape's previous $4-a-share proposal made in December and values the online pet pharmacy at a premium to its recent closing price. SilverCape, which owns about 12% of PetMed, said the reduced price reflects what it described as the company's continued deterioration. \n\n\n  In a letter to the board, SilverCape criticized PetMed's performance and accused directors of failing to meaningfully engage with its earlier proposal or run a robust sale process after receiving acquisition interest. \n\n\n  SilverCape urged the board to negotiate the revised offer, arguing that taking the company private would provide immediate value to shareholders after years of declining share performance. \n\n\n  Write to Anvee Bhutani at anvee.bhutani@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  June 29, 2026 10:16 ET (14:16 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.45.2","shortVersion":"4.45.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2647092377","isCrawlerRequest":true}