Cerberus Capital Management

Rough Cut: Dispute Between Maryland Builder and 84 Lumber Gets Personal
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Rough Cut: Dispute Between Maryland Builder and 84 Lumber Gets Personal

A fight over allegedly shoddy construction practices by 84 take on a special tone... Read more

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84 Lumber Fights Four-Year Battle Over Claims of Shoddy Construction

A builder's ongoing four-year dispute with 84 Lumber over allegedly shoddy construction has killed a personal as well as a business relationship. 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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3Q Net Loss Deepens at BlueLinx

BlueLinx Holdings Inc., the Atlanta-based distributor whose majority owner recently failed to take private, reported today its net loss for the third quarter deepened to $14.9 million from $13.5 million in the year-earlier period. Sales rose 3.4% to $464.7 million. 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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PA County Board Backs 84's Fed Loan Bid

Washington County, Pa., commissioners voted 2-1 to endorse 84 Lumber's application for a $5 million federal loan, the second step in 84's campaign to pay off the final quarter of a $195 million, 18% interest loan that has hobbled the LBM giant's operations. Read more

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For a Few Million More, Cerberus Wins BlueLinx

Thanks to an increase in its bidding price and other concessions, Cerberus, the investment firm that owns 55% of BlueLinx, persuaded a special board of directors panel to back its bid to buy the rest of the shares and take the distributor private. 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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