Notable Mergers and Acquisitions of the Day 11/10: VCGH, GGP, BJ

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November 10, 2010 10:11 AM EST

VCG Holding Corp. (Nasdaq: VCGH) announced that they have entered a Agreement and Plan of Merger with the Company's Chairman of the Board and Chief Executive Officer, Troy Lowrie, Family Dog, LLC, FD Acquisition Co., and the Company's President and Chief Operating Officer, Micheal Ocello, to acquire all of the outstanding common stock of the Company held by public shareholders for $2.25 per share in cash in a going-private merger transaction where FD Acquisition Co. would merge with and into the Company, with the Company surviving the merger. Family Dog, LLC and its wholly-owned subsidiary FD Acquisition Co. are currently owned and controlled by Mr. Lowrie.
General Growth Properties Inc. (NYSE: GGP) Board of Directors has approved an agreement to sell the Gateway Overlook Shopping Center in Columbia, Maryland, for a gross sales price of $90,050,000. Upon closing, which remains subject to certain limited conditions, the company expects to reduce its debt by approximately $55,000,000 and generate excess proceeds of approximately $35,000,000.
Shares of BJ's Wholesale Club Inc. (NYSE: BJ) are seeing interest in pre-open trading Wednesday on reports from the New York Post the company is looking to hire an advisor to explore strategic alternatives, including a possible sale to a private-equity firm.

Morgan Stanley and Goldman Sachs are said to be the lead candidates.

On source close to the company said this could be because management fears they may lose their jobs, as a private-equity buyer would likely "clean house."