BJ's Wholesale Up On Leonard Green, CVC Offer

BJ's Wholesale (NYSE: BJ) shares are up more than 4% this morning after Leonard Green and CVC disclosed they had submitted a bid for the company.

Leonard Green & Partners and CVC Capital Partners have teamed up with each other to buy BJ's Wholesale Club, which announced earlier this year that it was exploring a sale.

The two private equity firms said in a regulatory filing today that they had submitted a bid for the Massachusetts-based company, but did not disclose a specific price.

Leonard Green is BJ's largest shareholder, with 9.3% of the company.

Leonard Green has been busy buying companies recently, as it recently purchased Jo-Ann Store, and then joint purchased J. Crew with TPG Capital.

At last check, shares of BJ's were up $2.14 to $50.00, a gain of 4.47%.