BJ's Wholesale Club Surges After Saying Company May Be Sold
The stock jumped 13.35% to $48.74 a share at 8:12 am ET.
BJ's has hired Morgan Stanley & Co. (MS) to advise on options including a sale, the company said in a statement. There is no timetable for any deal, or any guarantee that a transaction will be completed.
"The company does not intend to provide updates or make any further comment regarding the evaluation of strategic alternatives, unless a specific transaction is recommended by the independent committee and the board, or the process is concluded," BJ's said in a statement.
BJ's operates 189 BJ's Wholesale clubs in 15 states.