BlueLinx Recommends Accepting Takeover Offer - Modern Distribution Management

Log In

BlueLinx Recommends Accepting Takeover Offer

Cerberus is now offering $4 a share for the building products distributor, up from its original proposal.
Author
Date

A special committee of Atlanta-based BlueLinx Holdings Inc. (NYSE:BXC) has recommended that stockholders accept the pending tender offer to sell their shares to Cerberus ABP Investors LLC. Cerberus recently raised its offer price to $4 a share. That's up from $3.40 a share.

We Deliver Distribution News to Your Inbox
Sign up below to receive MDM Update, your free weekly distribution news update by email.

\"\"

According to an earlier report, Cerberus, a private equity firm, owns more than half of BlueLinx's shares already.

BlueLinx reported sales for the first quarter ended April 3, 2010, were $431.1 million, up 6 percent from the same period a year ago. Overall unit volume rose 1.4 percent. The distributor reported a net loss for the period.

BlueLinx, operating through its wholly owned subsidiary BlueLinx Corporation, is a distributor of building products in North America. The company operates its distribution business from sales centers in Atlanta and Denver, and its network of more than 60 distribution centers.

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.