Mars to buy pet health care provider VCA for $7.7 billion

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[January 09, 2017]  (Reuters) - Candy and pet food maker Mars Inc said it would buy VCA Inc, which runs hospitals for animals, for $7.7 billion.

Mars bars are seen in this picture illustration taken February 23, 2016. REUTERS/Dado Ruvic/Illustration


Mars, the maker of Whiskas and Pedigree pet products, will pay $93 per share, a premium of 31.4 percent to VCA's Friday closing price.

The enterprise value of the deal is $9.1 billion including $1.4 billion in debt, the companies said in a statement on Monday.

VCA will operate as a separate business unit within Mars Petcare, the biggest pet food maker in the world.

(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Saumyadeb Chakrabarty)

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