BJ's Wholesale Club Inc (BJ.N) said on Wednesday it has agreed to be bought by private equity firms Leonard Green & Partners and CVC Capital Partners for $2.8 billion in cash. Under terms of the deal the wholesale club's shareholders will get $51.25 a share in cash for each share common stock they hold -- a premium of about 6.8 percent to the closing price of BJ's shares on June 28. Shares of BJ's, which put itself up for sale in February, were up 4.7 percent at $50.35 in premarket trading. BJ's operates 190 warehouse clubs, primarily in the eastern United States. It is a much smaller warehouse club than Costco Wholesale Corp (COST.O) and Wal-Mart Stores Inc's (WMT.N) Sam's Club chain. The clubs charge members annual fees to shop for everything from diapers to electronics at discounted prices.
BJ?s Wholesale Club, Inc. (BJ?s) is a warehouse club operator in the eastern United States. Shares of BJ remained unchanged at $48.08. In the past year, the shares have traded as low as $36.77 and as high as $52.46. On average, 1097190 shares of BJ exchange hands on a given day and today's volume is recorded at 4080218.
Costco Wholesale Corporation (Costco) operates membership warehouses that offer its members low prices on a limited selection of branded and selected private-label products in a range of merchandise categories. Shares of COST remained unchanged at $79.99. In the past year, the shares have traded as low as $53.41 and as high as $83.95. On average, 2369720 shares of COST exchange hands on a given day and today's volume is recorded at 0.
Wal-Mart Stores, Inc. (Walmart) operates retail stores. Shares of WMT remained unchanged at $52.53. In the past year, the shares have traded as low as $47.77 and as high as $57.90. On average, 10399500 shares of WMT exchange hands on a given day and today's volume is recorded at 3200.
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