June 20, 2011
Sale Plans Send BJ's Stock Down
The stock of Westborough-based BJ's Wholesale Club has fallen since two investment firms formally disclosed their intention to take the company private Friday.
After Leonard Green & Partners and CVC Capital Partners filed paperwork announcing their plan to take the discount retailer private, Janney Capital Markets downgraded the stock from "buy" to "neutral." The analyst said that although the filing does not disclose a price, "with just one bidder, we doubt there is a significant premium..."
The stock fell from $49.50 per share at the market opening Friday to under $46 this morning.
WBJ Web Partners
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