Leonard Green & Partners And CVC Complete Acquisition Of BJ’s Wholesale Club, Inc.
BJ's Wholesale Club, Inc. (NYSE: BJ) ("BJ's" or the "Company") today announced the completion of its acquisition by Beacon Holding Inc. (an affiliate of Leonard Green & Partners, L.P. ("LGP") and funds advised by CVC Capital Partners ("CVC")), for $51.25 per share in cash, without interest and less any applicable withholding taxes, pursuant to a merger agreement by and between the Company, Beacon Holding Inc. and Beacon Merger Sub Inc. (a wholly-owned subsidiary of Beacon Holding Inc.), dated June 28, 2011.
The transaction was approved by the Company’s stockholders at a special meeting of stockholders held on September 9, 2011. BJ’s common stock will be delisted from the New York Stock Exchange prior to the opening of business on Monday, October 3, 2011.
Stockholders who hold shares through a bank or broker will not have to take any action to receive the merger consideration, as the exchange of their shares for the merger consideration will be handled by the bank or broker. Stockholders who hold stock certificates will receive a letter of transmittal with instructions regarding delivery of their shares to the Company's exchange agent, American Stock Transfer & Trust Company, LLC.
About BJ's Wholesale ClubBJ's introduced the wholesale club concept to New England in 1984 and has since expanded to become a leading warehouse chain in the eastern United States. BJ's Wholesale Club operates 190 warehouse clubs in 15 states. About Leonard Green & Partners, L.P. LGP is a leading private equity firm with over $9 billion of equity capital under management. Based in Los Angeles, LGP invests in market leading companies across a range of industries. Significant current retail investments include J. Crew, Jo-Ann Stores, Whole Foods Market, Neiman Marcus Group, PETCO Animal Supplies, Leslie's Poolmart, The Sports Authority, The Container Store, Tourneau, David's Bridal, Jetro Cash & Carry and The Tire Rack.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV