Monday, September 12, 2011

BJ's Sale Approved

BJ's Wholesale Club, Inc. reported holders of approximately 72% of the company’s outstanding common stock approved the sale of the company to affiliates of Leonard Green & Partners, LP and funds advised by CVC Capital Partners and 0.4% opposed the sale. BJ's expects the closing of the merger will occur on or about September 30, 2011. Stockholders will receive $51.25 in cash, without interest and less any applicable withholding taxes, for each share of the company’s common stock. BJ’s Wholesale Club continues to operate 190 warehouse clubs in 15 states.

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