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Bark will not move forward with two proposed offers for the company to go private, the online pet brand announced Friday.

While Bark remains open to evaluating strategic opportunities, the company’s special committee of the board of directors believes the “existing standalone strategy represents the best path to maximize long-term stockholder value,” the company said.

A January take-private offer from Great Dane Ventures, an entity formed by some stockholders offering to acquire all outstanding shares of Bark’s common stock, was withdrawn. Bark’s CEO and Executive Chair Matt Meeker voluntarily withdrew as a member and equity holder of Great Dane Ventures earlier this month.

GNK Holdings and Marcus Lemonis — who serves as CEO of Bed Bath & Beyond Inc. — in January also proposed to acquire all outstanding shares of Bark’s common stock. Bark decided not to pursue the transaction after finding that it “did not adequately reflect the value of the company,” per the Friday announcement.

The take-private offers followed a long period of financial issues for Bark. The company, known for its subscription services for pet products, received two noncompliance warnings from the New York Stock Exchange over the course of two years.

Bark’s third quarter revenue declined about 22% year over year to $98.4 million, the company said in February.

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