BJ's Wholesale Club/Leonard Green & Partners/CVC Capital Partners
On June 29, 2011, BJ's Wholesale Club, Inc. (NYSE: BJ) entered into a definitive agreement to be acquired by affiliates of Leonard Green & Partners, L.P. and funds advised by CVC Capital Partners in an all-cash transaction valued at approximately $2.8 billion.
Under the terms of the agreement, BJ’s shareholders will receive $51.25 per share in cash for each share of BJ’s common stock they hold.
Closing is expected in Q411.
Morgan Stanley & Co. Inc. acted as financial advisor to BJ’s, and Wilmer Cutler Pickering Hale and Dorr LLP served as its legal counsel. Potter Anderson & Corroon LLP served as legal counsel to BJ’s committee of independent directors. Deutsche Bank Securities Inc., Citigroup Global Markets Inc., Barclays Capital Inc. and Jefferies & Company, Inc. acted as financial advisors, and, in addition to General Electric Capital Corporation and Wells Fargo Capital Finance, LLC, provided fully committed financing to CVC and LGP. Latham & Watkins LLP and Simpson Thacher & Bartlett LLP acted as legal advisors to LGP and CVC, respectively.
Under the terms of the agreement, BJ’s shareholders will receive $51.25 per share in cash for each share of BJ’s common stock they hold.
Closing is expected in Q411.
Morgan Stanley & Co. Inc. acted as financial advisor to BJ’s, and Wilmer Cutler Pickering Hale and Dorr LLP served as its legal counsel. Potter Anderson & Corroon LLP served as legal counsel to BJ’s committee of independent directors. Deutsche Bank Securities Inc., Citigroup Global Markets Inc., Barclays Capital Inc. and Jefferies & Company, Inc. acted as financial advisors, and, in addition to General Electric Capital Corporation and Wells Fargo Capital Finance, LLC, provided fully committed financing to CVC and LGP. Latham & Watkins LLP and Simpson Thacher & Bartlett LLP acted as legal advisors to LGP and CVC, respectively.
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