Blackstone to Pay $2.3 Billion to Acquire Pet Care Services Platform Rover

Blackstone will shell out $11 per share to acquire Rover and turn the pet care services platform back into a private company.

The deal, unveiled Wednesday, will involve all cash to the tune of $2.3 billion in total. The companies have pegged the first quarter of 2024 as when completion of the transaction should occur, provided it clears regulatory and closing requirements and gets the go-ahead from shareholders, according to Rover and Blackstone press releases.

Blackstone will remove Rover Group’s shares from the Nasdaq exchange when the asset management firm finishes the acquisition, the companies said.

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