BXC - strange situation

Discussion in 'Stocks' started by Maverick2608, Feb 21, 2020.

  1. "BlueLinx unaware of tender offer from Bluefin, will resume trade tomorrow
    The company states: "BlueLinx Holdings 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."

    BXC shot up 41% yesterday on the news. In the premarket today it is down 27%.

    Strange situation. I have never seen that before.