Rigrodsky & Long, P.A. Investigates BlueLinx Holdings, Inc. Buyout

  • Do you own BlueLinx Holdings, Inc. common stock?
  • Did you purchase your shares before July 22, 2010?
  • Do you feel that CAI's tender offer price is too low?
  • Do you want to discuss your rights?

If the answer to these questions is "yes," please contact the deal lawyers at Rigrodsky & Long, P.A. ("R & L") today to schedule a FREE consultation. Just call us, or fill out our contact form so that we can call at your convenience. Your consultation will not create any obligation to use our services at any time.

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R & L is national law firm with decades of combined legal experience. R & L is investigating potential claims the board of directors of BlueLinx Holdings, Inc. concerning possible breaches of fiduciary duty and other violations of law related to today's announcement by Cerberus ABP Investor LLC, an affiliate of Cerberus Capital Management, L.P., that it intends to make a tender offer for all of the outstanding publicly held shares of BlueLinx not already owned by CAI.

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Rigrodsky & Long, P.A. Investigates BlueLinx Holdings, Inc. Buyout

Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of BlueLinx Holdings, Inc. ("BlueLinx" or the "Company") (NYSE: BXC) concerning possible breaches of fiduciary duty and other violations of law related to today's announcement by Cerberus ABP Investor LLC ("CAI"), an affiliate of Cerberus Capital Management, L.P. ("Cerberus"), that it intends to make a tender offer for all of the outstanding publicly held shares of BlueLinx not already owned by CAI (the "Tender Offer").

The Tender Offer contemplates CAI will acquire all of the outstanding shares of BlueLinx for $3.40 per share.  Accoridng to Cerberus' press release, CAI already owns approximately 55.39% of BlueLinx's outstanding common stock.  Furthermore, CAI has stated "it was interested only in acuiring BlueLinx shares not already owned by it and that in its capacity as a stockholder it has no current interest in selling its stake in BlueLinx nor would it currently expect, in its capacity as a stockholder, to vote in favor of any alternative sale, merger or similar transaction."

The investigation concerns whether BlueLInx's board of directors is adequately shopping the Company and working to obtain the best price possible for BlueLinx's shareholders.  Indeed, according to Yahoo! Finance, at least one analyst has set a price target of $5.00 per share for BlueLinx stock.

If you own the common stock of BlueLinx and purchased your shares before July 22, 2010, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to info@rigrodskylong.com.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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R & L, with offices in Delaware and New York, litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising.  Prior results do not guarantee a similar outcome.

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