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Mars to Pay $9B for a Pet Health Company

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The firm will operate under Mars Petcare.

Mars Inc. will pay more than $9 billion for VCA Inc., a company that operates animal hospitals, Business Insider reports.

That price includes debt of $1.4 billion. VCA (NASDAQ: WOOF) will become part of Mars Petcare, but it will continue to be run as its own business, according to Business Insider.

Grant Reid, CEO of Mars, was quoted as saying, “VCA is a leader across pet health care and the opportunity we see together — for pets, pet owners, veterinarians and other pet care providers — is tremendous.”

The deal has been unanimously approved by the boards of directors of both companies.

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