BJ's Wholesale To Be Acquired For $2.8B; Shares Rise In Pre-Market

BJ's Wholesale Club Inc BJ agreed to be bought by affiliates of Leonard Green & Partners LP and funds advised by CVC Capital Partners for $2.8 billion. BJ's shareholders will receive $51.25 a share in cash, representing a premium of 7% over the stock's closing price on Tuesday. The deal is likely to close during the fourth quarter. BJ's shares jumped 4.83% to $50.40 in pre-market trading. Read more from Benzinga's Company news.