Investment firm Leonard Green & Partners has indicated that it is considering launching a bid to acquire US retailer BJ’s Wholesale Club.
In a filing with the US Securities and Exchange Commission yesterday afternoon (22 March), Leonard Green said it was examining confidential information from BJ’s as it assesses its options and determines whether to launch a takeover bid.
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The investment group has targeted a number of retailers recently. The firm bid US$1.3bn for 99 Cents Only Stores earlier this month, while its acquisition of Jo-Ann Stores is expected to close later this week.
BJ’s operates 190 warehuose stores in 15 states. At the beginning of the month, the company reported that net profit fell 27.4% to $95m during fiscal 2010.
Shares in the retailer edged up slightly on the news, rising from an opening price of $48.20 to close at $48.24.
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