Rover acquisition is complete

The acquisition was first announced toward the end of November last year, with Seattle-based Rover being given until 29 December 2023 to consider other proposals. 

However, Blackstone received the green light from Rover’s shareholders in a special meeting held on 22 February 2024. Shareholders will now receive $11 (€10.1) in cash for each common stock share they hold. Additionally, Rover’s common stock has now ceased trading and will be delisted from Nasdaq. 

“The closing of this transaction is an important milestone in Rover’s history and marks the start of the next chapter in our story,” says Aaron Easterly, Co-Founder and CEO of Rover. 

Easterly added that through this acquisition, Rover hopes to leverage Blackstone’s “resources and deep expertise to further our mission of making it possible for everyone to experience the unconditional love of a pet.”

Sachin Bavishi, Senior Managing Director at Blackstone, adds that this partnership will increase “Blackstone’s scale and resources to further accelerate Rover’s growth and innovation and enhance Rover’s strong value proposition relative to alternatives.”