MARIETTA, Ga., Feb. 20, 2020 (GLOBE NEWSWIRE) -- BlueLinx Holdings Inc. (NYSE: BXC), a leading distributor of building and industrial products in the United States (the “Company”), responded today to a press release issued by an investment firm that goes by the name of Bluefin Acquisitions, LLC.
In its press release, Bluefin Acquisitions claimed that it was making a tender offer to acquire at least 35% of the Company’s common stock at a price of $24.50 per share. The Company was not aware of this purported offer. Upon learning of the press release and not being able to verify that it was a legitimate offer, the NYSE halted trading in the Company’s stock for the remainder of the trading day. We expect that trading will resume tomorrow, February 21, when the market opens.
The Company is not able to assess the validity of the purported offer. The Company believes that the purported offeror’s actions may be false and misleading in violation of the U.S. securities laws because they failed to comply with the filing and disclosure requirements.
We urge public investors to carefully scrutinize any further communications from the purported offeror and rely only on tender offer materials that are properly filed with the U.S. Securities and Exchange Commission.
Unless and until a valid tender offer is made, the Company will not comment further regarding the actions of the purported offeror.
About BlueLinx Holdings Inc.
BlueLinx (NYSE: BXC) is a leading wholesale distributor of building and industrial products in the United States with over 50,000 branded and private-label SKUs, and a broad distribution footprint servicing 40 states. BlueLinx has a differentiated distribution platform, value-driven business model and extensive cache of products across the building products industry. Headquartered in Marietta, Georgia, BlueLinx has over 2,200 associates and distributes its comprehensive range of structural and specialty products to approximately 15,000 national, regional, and local dealers, as well as specialty distributors, national home centers, industrial, and manufactured housing customers. BlueLinx encourages investors to visit its website, www.BlueLinxCo.com, which is updated regularly with financial and other important information about BlueLinx.
Susan O’Farrell, SVP, CFO & Treasurer
BlueLinx Holdings Inc.
Mary Moll, Investor Relations
This press release contains forward-looking statements. Forward-looking statements include, without limitation, any statement that predicts, forecasts, indicates or implies future results, performance, liquidity levels or achievements, and may contain the words “believe,” “anticipate,” “expect,” “estimate,” “intend,” “project,” “plan,” “will be,” “will likely continue,” “will likely result” or words or phrases of similar meaning. Forward-looking statements in this press release are based on estimates and assumptions made by our management that, although believed by us to be reasonable, are inherently uncertain. Forward-looking statements involve risks and uncertainties that may cause our business, strategy, or actual results to differ materially from the forward-looking statements. These risks and uncertainties include those listed under the heading “Risk Factors” in Item 1A of our Annual Report on Form 10-K for the year ended December 29, 2018, and those discussed in our Quarterly Reports on Form 10-Q and in our periodic reports led with the SEC from time to time. Given these risks and uncertainties, we caution you not to place undue reliance on forward-looking statements. We expressly disclaim any obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by law.
Source: BlueLinx Corporation