Pets at Home jumps on Betaville takeover speculation

(Sharecast News) - Pets at Home surged on Wednesday after markets blog Betaville suggested the company was at the centre of takeover rumours. Betaville said that people following the situation had heard rumours Pets at Home may have attracted takeover interest, possibly from a private equity firm.

Some people suggested the private equity firm may be based in Europe but have a similar business in the US.

At 1125 GMT, the shares were up 15% at 265p.

Financial News pointed to the fact that "Pug Bidco Limited" and a series of related companies were registered with Companies House on 24 February.

It said the bidcos share an address with BC Partners - 40 Portman Square - and their director shares a name with BC Partners' New York-based co-head of healthcare Michael Chang.

BC Partners is the owner of US pet retailer PetSmart; Chang is involved in that investment according to his profile on the private equity firm's website.

A person close to BC Partners told Financial News that it was not true the bidcos were targeted at Pets at Home.

At 1125 GMT, the shares were up 15% at 265p.