PetSmart reviews capital structure amid activist pressure

PetSmart Inc. said its board has been reviewing potential changes to the pet-supply retailer’s capital structure, including returning capital to shareholders, amid activist pressure.

Jana Partners, which disclosed Thursday it had taken a nearly 10 percent stake in the company, said it would talk with the retailer about strategic options, including a potential sale, according to MarketWatch.

The news sent shares of PetSmart jumping 13 percent to close at $67.28 Thursday, and the stock was up another 1.5 percent to $68.31 in premarket trading on Monday.

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