Blackstone to Buy Rover Group for $2.3 Billion

null By Maria ArmentalUpdated Nov. 29, 2023 6:09 pm ET|WSJ ProBlackstone offered $11 a share, a 29% premium to Tuesday’s closing price. Photo: Andrew Harrer/Bloomberg NewsBlackstone agreed to buy online pet-care marketplace Rover Group in a roughly $2.3 billion deal that bets on growing demand for pet services, an area considered insulated from economic ups and downs.“Rover has a significant runway for growth as pet owners increasingly place a premium on high-quality care, flexibility and convenience,” Tushar Gupta, a principal at Blackstone, said in a statement.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

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Blackstone to Buy Rover Group for $2.3 Billion

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By Maria Armental

Updated Nov. 29, 2023 6:09 pm ET|WSJ Pro

Blackstone offered $11 a share, a 29% premium to Tuesday’s closing price. Photo: Andrew Harrer/Bloomberg News

Blackstone agreed to buy online pet-care marketplace Rover Group in a roughly $2.3 billion deal that bets on growing demand for pet services, an area considered insulated from economic ups and downs.

“Rover has a significant runway for growth as pet owners increasingly place a premium on high-quality care, flexibility and convenience,” Tushar Gupta, a principal at Blackstone, said in a statement.