Stalking horse bid

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Stalking horse bid

In bankruptcy proceedings, this refers to first bid for the companies assets. This is the bid to beat. If there are multiple bids, often there is a bankruptcy auction.

Stalking Horse Bid

1. In a corporate bankruptcy in which the corporation wishes or is required to sell its assets, an initial bid on those assets by a third party chosen by the corporation. This is done to ensure that the bankrupt corporation does not have to settle for unacceptably low prices for its assets.

2. More generally, a "trial balloon" in which a third party approaches a person or company inquiring about the possibility of a (usually hostile) takeover. The party actually asking about the takeover remains anonymous so as to protect its reputational risk in case the idea does not meet with favor.
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The stalking horse bids have set a floor of more than $850 million for the bulk of the Company's assets," Mr.
A bankruptcy court sale is scheduled for September however, stalking horse bids will also be considered for the properties.
The combined purchase price under the two stalking horse bids is approximately $56.
The contemplated purchase prices for Drake's and the four bread brands, together with our previous announced stalking horse bid for the majority of our bread business, means we have agreements to sell these assets for at least $440 million.
If approved, the stalking horse bids will serve as the opening bids in the auction.
With respect to Golden Gate Fields, Gulfstream Park, Maryland Jockey Club and Santa Anita Park, MID will continue to evaluate all of its alternatives, which may include MID entering into a stalking horse purchase agreement for one or more of such assets in the event that MEC receives no other stalking horse bids acceptable to MEC.
With respect to Golden Gate Fields, Gulfstream Park, Maryland Jockey Club and Santa Anita Park, MID has indicated that it is continuing to evaluate all of its alternatives, which may include MID entering into a stalking horse purchase agreement for one or more of such assets in the event that MEC receives no other stalking horse bids acceptable to MEC.
Bankruptcy Court for the Western District of Kentucky in Louisville, other qualified parties may submit higher and better offers for some or all of Jillian's assets, including clubs or other assets covered by the stalking horse bids.