Blackstone Group Acquires Rover Group in $2.3 Billion Deal

Rover shareholders to receive $11 per share, a 61% premium over the average share price of the past 90 trading days.

Blackstone Group is set to acquire pet care app Rover Group in an all-cash deal valued at $2.3 billion.
Rover shareholders will receive $11 per share, a 61% premium over the average share price of the past 90 trading days.
The deal is expected to close in the first quarter of 2024, after which Rover will no longer be a publicly-traded company.
Rover, which connects pet owners with care providers, has facilitated over 93 million services since its inception in 2011.
Rover's revenue rose 36% in the first nine months of 2023, after growing 58% in 2022.