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Jo Ann Stores

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Leonard, CVC Taking BJ's Private in $2.8B Cash Deal

BJ’s Wholesale Club (NYSE:BJ) said Wednesday that it has agreed to be acquired by affiliates of Leonard Green & Partners and funds advised by CVC Capital Partners for $2.8 billion in cash.The move is the latest by Leonard Green in its string of retail buys. The private equity company, which already owned 9.3% of BJ’s, also owns Jo Ann Stores and J. Crew. It has teamed up with the Schiffer-Gold family in a bid for 99 Cents Only Stores, too.Under the terms of its latest deal, BJ’s shareholders will receive $51.25 a share, representing a 38% premium to the company’s closing price on June 30, the day before rumors of the deal were made public.“BJ’s will benefit from the continued execution of our business plan and the significant retail expertise of our new partners at LGP and CVC, as well as from continued investments in our clubs, our people and technology, and the future of our business,” BJ’s CEO Laura Sen said in a statement.While the deal is subject to shareholder approval, BJ’s boar...

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  1. Private Equity Firms Gearing Up for BJ's Buy

    Private equity companies Leonard Green & Partners and CVC Capital Partners have teamed up to unveil a long awaited bid for  BJ’s Wholesale Club (NYSE:BJ).The officia...

  2. 99 Cents Only Stores Gets $1.34B Buyout Offer

    99 Cents Only Stores (NYSE:NDN) has received a bid from the family that runs the company and a private equity firm to take the company private for $1.34 billion in c...

  3. Markets Drift to Pre-Christmas Stalemate

    FOX Business: The Power to ProsperWall Street limped to a very quiet deadlock on Thursday as an avalanche of mixed economic indicators failed to deliver a lump of co...

  4. Jo -Ann Stores Recall 1,800 Bamboo Roll-Up Blinds Due to Strangulation Risk

    Jo-Ann Stores (NYSE:JAS) recalled 1,800 roll-up blinds due to risk of strangulation, adding itself to a list of those recalling some 50 million Roman blinds and shad...

  5. Jo -Ann Stores Beats Wall Street on 2Q Earnings, Raises Outlook

    Shares of Jo-Ann Stores (NYSE:JAS) shot up more than 5% in after-hours trading late Wednesday after the retailer reported a second-quarter profit and upped its full-...

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