WASHINGTON: Apollo Global Management is nearing a buyout of PetSmart Inc for about $8bn in what would be the largest leveraged deal for a US company this year, Bloomberg reported, citing unnamed sources. “New York-based Apollo is in late-stage talks to buy PetSmart for about $8bn following an auction process that has been under way for weeks, said one of the people, who asked not to be identified because the talks are confidential,” Bloomberg said.
It said the pet-supplies retailer has a market value of $7.72bn. Reuters
