Hedge fund Jana Partners to ask PetSmart to explore sale

July 3 Thu Jul 3, 2014 8:51am EDT

July 3 (Reuters) - Activist hedge fund Jana Partners LLC said it planned to ask PetSmart Inc to explore a sale, sending the pet products retailer's shares up 13 percent in premarket trading.

Jana Partners reported a 9.9 percent stake in the company in a regulatory filing and said it expects to hold discussions with PetSmart's management and board, shareholders and other interested parties. (1.usa.gov/1orkOfN) (Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Joyjeet Das)

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