Report: Big Lots to explore possible sale
Columbus, Ohio -- Multiple news sources reported late Monday that discounter Big Lots is exploring its options, including a potential sale. No reports have yet been confirmed by the retailer.
According to Bloomberg, which cited an unnamed source, Big Lots is exploring a possible sale of the company after receiving interest from buyout firms. Big Lots has a total enterprise value of $2.6 billion, according to Capital IQ.
Big Lots, which is working with Goldman Sachs Group to study strategic options, was approached by Thomas H. Lee Partners LP and Bain Capital LLC, according to Bloomberg’s source.
Shares of the retailer surged more than 15% in Monday afternoon trading after the reports surfaced.