Leonard Green firm evaluating BJ’s takeover
New York City — Information on Tuesday confirmed that private equity firm Leonard Green & Partners LP is considering an offer to acquire BJ’s Wholesale Club.
Leonard Green, which already as a 9.3% ownership stake in the wholesale club operator, said in an SEC filing that it is examining confidential information provided by BJ’s as it evaluates an offer.
BJ’s revealed in February that it was considering selling itself.
Leonard Green recently bid $1.3 billion to acquire 99 Cents Only and $1.6 billion for Jo-Ann Stores. It was also part of a group that acquired J. Crew for $3 billion.
Report: Wal-Mart antitrust hearings in South Africa delayed
Johannesburg, South Africa — A Tuesday report by Bloomberg said that hearings on a Wal-Mart Stores bid to acquire control of Massmart Holdings Ltd. will be adjourned to May 9, following an earlier announcement on Tuesday that the hearings would proceed this week.
After announcing that it will hear evidence from labor unions and Wal-Mart and Massmart this week and from the government on May 9 and May 10, South Africa’s Competition Tribunal now say the hearing has been adjourned to May 9.
Macy’s joins list of retailers supporting Japanese relief efforts
CINCINNATI — Macy’s Inc. announced that it will make a corporate contribution of $100,000 in cash tothe American Red Cross for earthquake and tsunami relief on behalf ofMacy’s and Bloomingdale’s associates across America. In addition, the company said it will match,on a dollar-for-dollar basis, allemployee contributions of $25 or more to the American Red Cross andother U.S.-based organizations providing rescue and relief assistancein Japan.
The company added that Macy’s and Bloomingdale’s will support Polo Ralph Lauren’s efforts to help Japan byoffering a Ralph Lauren mesh Japan Relief polo shirt that will be soldto customers at select Macy’s stores, Bloomingdale’s stores and onmacys.com and bloomingdales.com. The shirt will sell for $98, with100% of the proceeds donated to Central Community Chest of Japan, partof United Way Worldwide.
"We are deeply moved by the series of recent events which are havingsuch a devastating effect on the people of Japan and we wish to offerour support to help them endure and recover from the widespreaddestruction of the earthquake and tsunami," said Terry Lundgren,Macy’s Inc. chairman, president and chief executive officer. "In timeslike these, the world comes together and we are always so proud to seethe outpouring of generosity by our company’s associates, customers andvendors. As Americans, we have a special relationship with the Japanese.We hope that our role in the larger international relief effort can helpalleviate the suffering and devastation of those who lost family,friends, homes, possessions and peace of mind."