BJ's Investor Balks At $2.8B Sale To Leonard Green

Law360, New York (June 30, 2011, 4:32 PM EDT) -- A BJ's Wholesale Club Inc. shareholder filed a class action in Delaware state court on Wednesday seeking to block Leonard Green & Partners LP's $2.8 billion acquisition of the company, alleging the deal was unfair and undervalued BJ's.

BJ's announced on Wednesday that it would be bought by private equity firm Leonard Green and a group of funds advised by CVC Capital Partners, but shareholder and named plaintiff Maxine Phillips says Leonard Green is exploiting its access to nonpublic information about BJ's improving financial situation....
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