NEW YORK -- An affiliate of private investment firm Cerberus Capital Management LP has given up trying to takeover BlueLinx Holdings Inc., a nationwide distributor of board products.

Cerberus ABP Investor LLC, a BlueLinx majority shareholder, had a tendered an offer of $4 in cash per share, according to CNBC. The deal was valued at approximately $58 million.

The deal ended when Cerebus was unable to gain at least 90 percent of BlueLinx's outstanding stock.

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