Green Equity buys 5.1 million shares of BJ's, wants to consider taking it private
A private-equity firm has taken a big stake in BJ's Wholesale Club and says it plans to talk with the warehouse club's executives about the potential for taking the company private.
Green Equity Investors bought up 5.1 million shares of BJ's stock. That's about 9.5 percent of the company's shares.
The firm says in a regulatory filing Thursday that the retailer's shares are undervalued. Green Equity plans to discuss potential options for improving shareholder's value — including taking the company private, new financing or other transactions.
BJ's shares rose $4.56 — more than 12 percent — to $41.57 in midmorning trading on the news.
BJ's is based in Natick, Mass.
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