BJ's Wholesale Club Inc (BJ.N) agreed to be bought by private equity firms Leonard Green & Partners and CVC Capital Partners for $2.8 billion in cash, an offer price that shows there is a modest appetite for retail deals. Under terms of the deal announced on Wednesday, the wholesale club's shareholders will get $51.25 a share in cash for each share of common stock they hold -- a premium of about 6.8 percent to the closing price of BJ's shares on Tuesday. Shares of BJ's, which put itself up for sale in February, were trading below that price, rising 4.8 percent to $50.37. BJ's operates 190 warehouse clubs in 15 U.S. states concentrated on the East Coast. It is much smaller than Costco Wholesale Corp (COST.O) and Wal-Mart Stores Inc's (WMT.N) Sam's Club. All three charge members annual fees to shop for everything from diapers to electronics and gasoline at discounted prices.
BJ?s Wholesale Club, Inc. (BJ?s) is a warehouse club operator in the eastern United States. Shares of BJ traded higher by 4.7% or $2.26/share to $50.34. 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 18050196.
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 102106.
Wal-Mart Stores, Inc. (Walmart) operates retail stores. Shares of WMT traded higher by 0.25% or $0.13/share to $52.66. 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 418240.
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