Investigation Launched Into BJ’s Sale

New York law firm Bull & Lifshitz LLP has begun investigation into possible breaches of fiduciary duty related to the proposed sale of Westborough, Mass.-based BJ’s Wholesale Club Inc. to affiliates of Leonard Green & Partners, L.P. and funds advised by CVC Capital Partners in an all-cash transaction worth about $2.8 billion.

Under the deal, BJ’s shareholders are to get $51.25 per share in cash for each share of BJ’s common stock. The aim of the investigation is to determine whether the proposed deal provides adequate value to the company’s shareholders.

Holders of BJ’s common stock with questions can e-mail or call Bull & Lifshitz LLP, which represents investors in merger-related shareholder class actions, shareholder derivative actions and securities fraud class actions.

Expected to close during the fourth quarter of 2011, BJ's transaction with the private equity firms was made public at the end of last month.