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BJ's shareholders OK acquisition
Westborough, Mass. -- BJ’s Wholesale Club said Friday that its shareholders have okayed the acquisition bid that will take the company private.
Private equity firms Leonard Green & Partners and CVC Capital Partners agreed to acquire the warehouse club operator in a deal valued at $2.8 billion.
According to BJ’s, 72% of its shareholders approved the bid. The deal is slated to close on or about Sept. 30.
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BJ's shareholders OK acquisition by Leonard Green, CVC
WESTBOROUGH, Mass. — At a special meeting held Friday, BJ's Wholesale Club stockholders approved the definitive agreement between the company and Leonard Green & Partners and CVC Capital Partners to be acquired in an all-cash transaction valued at about $2.8 billion.
BJ's anticipates the closing of the transaction, which was announced in late June, will occur around the end of the month.