Cerberus Offers To take BlueLinx Private

(Reuters) – Private equity firm Cerberus Capital Management LP offered to buy out BlueLinx Holdings Inc (BXC.N) by acquiring shares it does not already own, valuing the distributor of building products at $111.1 million.

Cerberus, whose affiliate already owns 55.39 percent of BlueLinx as of May 7, said it would buy the remaining shares for $3.40 a share in cash, a premium of about 36 percent to the stock’s closing price Wednesday.

Cerberus said it intends to commence the offer within seven days.

BlueLinx shares were trading at $3.40 before the bell. (Reporting by A.Ananthalakshmi in Bangalore; Editing by Gopakumar Warrier)