BJ's (BJ) Seeking Higher Takeover Bid
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BJ's Wholesale Club (NYSE: BJ) is looking for a sweeter offer from suitors...by as much as 10 percent.
According to the NY Post, BJ's expects offers now near $55 per share, from the $50 per currently being offered.
Two private equity firms, Leonard Green & Partners and CVC Capital Partners, made a bid last week.
The Post notes that Leonard Green and CVC are "reluctant" to offer that much. Talks are still ongoing.
Janney Montgomery Scott issued a note last week pegging $52 as "fair value" for BJ's.
Shares spiked both on the initial story, which ran June 7th, and on the subsequent filing, which was made last week. The stock has cooled off a bit since.
BJ's shares are trading modestly higher ahead of the bell.
According to the NY Post, BJ's expects offers now near $55 per share, from the $50 per currently being offered.
Two private equity firms, Leonard Green & Partners and CVC Capital Partners, made a bid last week.
The Post notes that Leonard Green and CVC are "reluctant" to offer that much. Talks are still ongoing.
Janney Montgomery Scott issued a note last week pegging $52 as "fair value" for BJ's.
Shares spiked both on the initial story, which ran June 7th, and on the subsequent filing, which was made last week. The stock has cooled off a bit since.
BJ's shares are trading modestly higher ahead of the bell.
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