ATLANTA (AP) — BlueLinx Holdings Inc., a distributor of building products, said Monday that it is recommending shareholders accept a $4-per-share buyout offer from Cerberus ABP Investors LLC.
Cerberus raised the offer to $4 from $3.40 on Thursday. It also extended its offer until Oct. 8.
Cerberus already owns 55.4 percent of BlueLinx.
Shares of BlueLinx added 1 cent to $3.98 in morning trading. Over the past year shares have traded between $2.24 and $6.32.