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BJ’s OKs CVC, Green LBO

(Reuters) – BJ’s Wholesale Club Inc said shareholders approved its takeover by private equity firm Leonard Green & Partners and funds advised by CVC Capital Partners in a deal worth $2.8 billion.

Holders of about 72 percent of the company’s stock voted in favor of the deal while holders of less than a percent of the company’s common stock voted against it.

The merger is expected to close by the end of the month, BJ’s said in a statement.

Shares of the company, which operates 190 warehouse clubs in 15 U.S. states concentrated on the East Coast, were trading nearly flat at $50.99 on Friday morning on the New York Stock Exchange.