5 million stalking horse bid
for a substantial portion of the assets.
8, 2013 bankruptcy filing, Furniture Brands International received debtor in possess financing from Oaktree Capital Management, which also provided a stalking horse bid
on the parent of Thomasville and Lane furniture.
Popularly referred to as a stalking horse bid
, the offer by the private equity firms serves as the minimum proposal for the business and could still be topped by others.
A portfolio company of Leading Ridge Capital Partners, Rugby acquired substantially all of the assets of Lumber Products through its stalking horse bid
under Section 363 of the US Bankruptcy Code.
Borders intended for Najafi to be the stalking horse bid
for an auction today.
RIM believes that such an offer would result in an extremely attractive price for Nortel creditors and value substantially in excess of the stalking horse bid
made by Nokia Siemens Networks.
In bankruptcy cases, a stalking horse bid
sets a threshold price so that other potential bidders can't low-ball the purchase price.
A stalking horse bid
involves sale deals made before a bankruptcy auction, setting the minimum bid price that can be asked for a bankrupt company's assets.
As previously announced, Searchlight Capital Partners had submitted a stalking horse bid
for the Digital Domain and Mothership assets in the amount of $15 million.
The new motion goes on to say that the auction should still take place with the Greenberg/Ryan group, yet again, willing to waive their exclusivity agreement while using the improved Asset Purchase Agreement as a stalking horse bid
, and still include the $15 million "break-up fee", should the Greenberg.
The last bids made by the respective bidders prior to the adjournment of the auction will result in the Company realizing additional proceeds from the sale of assets when compared to each of the stalking horse bid
set forth in the Asset Purchase Agreement entered into between the Company and the Saban Bidder as of April 25, 2012 and the Qualified Bid submitted by the Konami Bidder prior to the auction.
Aliens will have to seek bankruptcy court approval of Seneca's purchase agreement as the stalking horse bid
and other bid procedures.