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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.
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Best Buy turns to third-party sellers to boost online presence
MINNEAPOLIS — Best Buy has joined the likes of Amazon and eBay with the launch of its own third-party shopping destination. The move comes as Best Buy looks to grow its online business as it struggles to maintain leadership of a saturated consumer electronics market.
According to Best Buy, Best Buy Marketplace will increase the company's online product assortment by one third in time for holiday shopping.