(Reuters) – Rover Group shares surged 28% in early trading on Wednesday after the pet care company said investment firm Blackstone will take it private in $2.3 billion all-cash deal.
The company’s shareholders will receive $11 per share at a premium of 29.4% from the last close price.
Rover is an online marketplace where pet care providers offer services such as dog walking and in-home pet sitting.
The company said the transaction is expected to close in the first quarter of 2024.
(Reporting by Christy Santhosh in Bengaluru; Editing by Arun Koyyur)
