5 a net loss of $3.4 million for the second quarter, swinging from a year-earlier profit of $600,000. Cerberus already owns just over 55% of the company.īlueLinx provides products from more than 750 suppliers to 11,500 customers nationwide. It came three days after Cerberus, in an SEC filing, increased its offer for BlueLinx to $4 per share from $3.40.
The recommendation was made on behalf of BlueLinx by a special committee of the board of directors that had been convened to consider the offer from Cerberus ABP Investors LLC (CAI), a unit of Cerberus Capital Management. today 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.
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