VCA to Acquire PET DRx for $41.3M


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Posted June 09, 2010 4:15PM PST

Veterinary hospital company PET DRx Corp. is being acquired by its larger competitor VCA Antech Inc. for about $41.3 million in cash.

The deal values PET DRx's shares at about 36 cents each. Stock in the company closed at 34 cents today.

Most of the cash will go to pay down $28.5 million in debt.

PET DRx was acquired by Echo Healthcare Acquisition Corp. in January 2008. The SPAC had a per share trust value of $8.10.

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