BXC Rallies After A Hike In Offer

BlueLinx Holdings Inc BXC shares spiked around 17% on Thursday, after Cerberus Capital Management LP affiliates raised their takeover offer from $3.40 per share to $4 per share. Cerberus affiliated Cerberus ABP Investor LLC already have a 55% stake in BXC. BXC shares gained 17.35% to $3.99 at 10:17 am. BlueLinx shares have gained 5.92% over the past month and have risen 22.74% so far this year. Read more from Benzinga's Company news.