BJ’s Is Said to Seek Takeover, Hire Morgan Stanley

BJ’s Wholesale Club Inc. plans to run an auction to sell itself after receiving an offer from private-equity firm Leonard Green & Partners LP in recent months, said three people with knowledge of the situation.

BJ’s hired Morgan Stanley to help sell the company, said two people, who declined to be identified because the matter is private. Morgan Stanley will also offer to provide financing to potential buyers, or so-called staple financing.