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Petsmart Buys 'Chewy' E-Commerce Site

Pet supplies mega-retailer PetSmart is seeking to acquire Chewy.com, the market's top online retailer. The combination will enhance both companies' reach. Chewy.com CEO Ryan Cohen is to operate Chewy as an independent subsidiary of PetSmart. The acquisition, which is subject to customary regulatory approvals, is expected to close this summer.

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