Mars Inc. To Buy VCA In $9.1 Bln Deal - Quick Facts

(RTTNews) - Mars Inc. said it agreed to acquire all of the outstanding shares of VCA Inc. (WOOF) for $93 per share, or a total value of about $9.1 billion including $1.4 billion in outstanding debt.

The transaction price represents a premium of approximately 41 percent over VCA's 30-day volume weighted average price on January 6, 2017, and a premium of approximately 31 percent over VCA's closing price on January 6, 2017.

VCA is a provider of pet health care services in the country delivered through nearly 800 small animal veterinary hospitals in the US and Canada, a preeminent nationwide clinical laboratory system that services all 50 states and Canada (Antech Diagnostics), the leading animal diagnostic imaging company in the market (Sound), and Camp Bow Wow (CBW), the nation's Premier Doggy Day and Overnight Camp franchise.

The agreement has been unanimously approved by the boards of directors of both companies.

The transaction is subject to certain customary closing conditions, including, among other things, VCA shareholder approval and customary regulatory approvals.

Mars has committed financing for the purchase of VCA. It expect the transaction to close in the third-quarter of 2017.