New bidder wins Genesis asset auction in $1.015B bid
Genesis HealthCare selected 101 West Street as the winning bidder to buy its assets in a bankruptcy auction, after five rounds of bidding produced a $1.015 billion offer that edged out Genie 3 Partners; the deal includes about $11 million in breakup fees and $8 million in termination fees to a lender, and must be approved at a January 20 hearing.