Pet-supply retailer PetSmart to be acquired by BC Partners Group

PetSmart Inc. agreed to be bought by a group led by BC Partners Inc. for about $8.25 billion, in the largest private-equity buyout of the year.

• The group agreed to pay $83 a share in cash, a premium of about 6.9% to Friday's closing price of $77.67.
• BC Partners is a British private equity firm and was founded in 1986.
• Bearish traders have also been piling into PetSmart this year. About 15% of the shares outstanding have been sold short, up from about 7% at the end of 2013, according to Markit data. Companies in the S&P 500 Index have an average short interest ratio of 2.2 percent.