BJ's Wholesale Club Gives Up Gains

BJ's Wholesale Club, Inc. (NYSE: BJ) shares have given up their gains from earlier in the session, and are now negative on the session as concerns over the going private deal weigh on the name.

Earlier today, Leonard Green and CVC Partners announced in a filing that they had sent a letter to BJ's and offered a bid for the company, but did not discuss a specific price.

Leonard Green is BJ's largest shareholder, with 9.3% of the company. Shares had been up as much as nearly 5% in pre-market trading, but have since given up all of those gains, and are now down 28 cents on the session to $47.57, a loss of 0.6%.