cerberus

BlueLinx Chief Leaves Distributor; Search for Successor Begins
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BlueLinx Chief Leaves Distributor; Search for Successor Begins

BlueLinx, which hasn't turned a profit since 2006, announced that president and... Read more

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BlueLinx Raises $58.5M in Rights Offering

Investors in BlueLinx Holdings fully subscribed to the distributor's rights offering, generating roughly $58.5 million in net proceeds, the Atlanta-based building products distributor announced. Read more

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BlueLinx Sets June 20 as Record Date for Rights Offer

BlueLinx Holdings will use the company's stock price as of the end of trading on Monday, June 20, to determine payouts for its $60 million rights offering. Read more

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With Federal Help, 84 Pays Off $195M, 18% Loan

84 Lumber closed a deal that uses federal and private loans to pay off the rest of a $195 million, 18% interest loan that has hobbled the LBM giant's operations. The deal has raised eyebrows within the building supply community because much of the payoff comes from $20 million worth of federal community development grants. Read more

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Cerberus Fails To Buy Out BlueLinx

The investment fund that owns 55% of BlueLinx Holdings disclosed today it failed to persuade enough of the other shareholders to let it buy the rest of the Atlanta-based distributor, even after it had sweetened its offer and won the recommendation of an independent committee of the BlueLinx board. Read more

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BlueLinx Inks Deal Supporting Takeover by Cerberus

BlueLinx Holdings gave notice in an SEC filing Thursday that it had entered into an agreement with Cerberus Capital Management and one of its units to buy the 45% of shares in BlueLinx that Cerberus doesn't already own. Read more

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BlueLinx Endorses Cerberus' Buyout Bid

BlueLinx Holdings Inc. endorsed a bid by the 55% owner of the Atlanta-based distributor to buy the rest of the company's shares for $4 each and privatize BlueLinx for roughly $58.4 million. Read more

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Offer Price for BlueLinx Raised

The investment firm that owns 55% of BlueLinx increased its bidding price to take over and privatize the distributor. It also said it now expects the special board of directors panel set up to review the offer will recommend shareholders take the deal. Read more

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Cerberus Adds 4th Week To BlueLinx Buyout Offer

The investment firm seeking to buy and take private BlueLinx added today a fourth week--until Friday, Oct. 1--to the deadline for its offer to pay $49.6 million for the 45% of the shares in the Atlanta-based distributor that it doesn't already own. Read more

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For 3rd Time, Offer To Buy Out BlueLinx Extended a Week

For the third straight week, the investment firm seeking to buy and take private BlueLinx added another seven days--until Sept. 24--to the deadline for its offer to buy the 45% of the shares in the Atlanta-based distributor that it doesn't already own. Read more

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