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WSJ: BJ's Wholesale interested in buying Hess gas stattions

  • The private-equity owners of BJ's Wholesale Club have expressed interest in buying Hess' (HES -0.2%) ~1,300 gas stations, which they envision pairing with the wholesale clubs, WSJ reports.
  • Some would-be suitors have expressed interest in parts of the gas station chain, but Hess is said to prefer a buyer for the whole; Hess also is laying the groundwork for a potential spinoff of the stations, which is considered more tax-friendly.
  • Marathon Petroleum (MPC +0.1%), which owns 1,470 Great Lakes region gas stations through its Speedway subsidiary, indicated last week that it is interested in the Hess stations.
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