Private equity firms Leonard Green and CVC Capital Partners could make a joint takeover offer for BJ's Wholesale Club Inc (BJ.N) next week, valuing the third-largest U.S. wholesale club retailer at about $2.8 billion, the New York Post reported, citing sources. The paper also said late on Tuesday that Apollo Global Management LLC (APO.N) and Bain Capital had pulled out of the race. In April, a source told Reuters that Apollo might be interested in BJ's Wholesale as the retailer could fit well with its Smart & Final chain. Leonard Green and CVC Capital Partners did not immediately respond to requests seeking comment. In March, Leonard Green & Partners said it was evaluating whether to purchase BJ's and had entered into a confidentiality agreement with the company.
BJ?s Wholesale Club, Inc. (BJ?s) is a warehouse club operator in the eastern United States. Shares of BJ remained unchanged at $47.7. In the past year, the shares have traded as low as $36.77 and as high as $52.46. On average, 939218 shares of BJ exchange hands on a given day and today's volume is recorded at 0.
Apollo Global Management, LLC (Apollo) is a global alternative asset manager. Shares of APO remained unchanged at $16.92. In the past year, the shares have traded as low as $16.80 and as high as $19.00. On average, 1438320 shares of APO exchange hands on a given day and today's volume is recorded at 0.
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