All articles tagged with #sale process
Originally Published 6 months ago — by PR Newswire
Del Monte Foods has filed for Chapter 11 bankruptcy to facilitate a strategic sale and strengthen its financial position, securing $912.5 million in debtor-in-possession financing to continue operations during the process, with the goal of creating a more sustainable and successful company under new ownership.
Originally Published 1 year ago — by Bloomberg
A bankruptcy judge expressed concerns over the transparency of the sale process in which The Onion, a satirical news site, won an auction for Alex Jones' Infowars website. Judge Christopher M. Lopez plans to hold a hearing next week to address these concerns and potentially approve the sale.
Originally Published 1 year ago — by Seeking Alpha
U.S. chip designer Synopsys is reportedly initiating the sale of its software integrity business, potentially valued at $3 billion or more, following its recent agreement to acquire engineering software firm Ansys. The company is working with an adviser to assess buyer interest, with private equity firms likely to show interest. While deliberations are ongoing and no certainty exists regarding a transaction, the move aligns with Synopsys' exploration of strategic alternatives for the software integrity business as announced by its CEO in November.
Originally Published 2 years ago — by theloadstar.com
Deutsche Bahn has officially launched the sale process for DB Schenker, its logistics subsidiary, with potential buyers asked to register their interest by mid-January. The sale proceeds will be used to reduce Deutsche Bahn's debt and allow it to focus on its core business. The move sets the stage for potential M&A activity in 2024, with DSV and UPS among the rumored interested parties.
Originally Published 2 years ago — by Reuters
U.S. Steel and Cleveland-Cliffs are in a dispute over a confidentiality agreement that would allow Cleveland-Cliffs to participate in the sale process of U.S. Steel. U.S. Steel has not granted access to its books to Cleveland-Cliffs, as the latter refuses to sign a standstill agreement preventing it from challenging U.S. Steel's board of directors. Cleveland-Cliffs wants to keep its options open as it pursues the acquisition. U.S. Steel has made the standstill agreement a condition for due diligence and participation in the sale process. Other potential bidders are being granted access on the same terms. It remains uncertain whether U.S. Steel will agree to a deal with any party.
Originally Published 2 years ago — by Fox Business
The Federal Deposit Insurance Corporation (FDIC) is reportedly considering breaking up Silicon Valley Bank (SVB) into at least two components and relaunching the sale process after the initial auction failed to attract buyers. Under the potential plan, SVB's private bank would be a separate entity with a Wednesday deadline for auction, while SVB's depositary bank would be put up for sale in a separate auction with bids due Friday. SVB was taken into receivership by the FDIC on March 10, 2023, after it failed amid a bank run and liquidity crunch.
Originally Published 2 years ago — by CNBC
The FDIC is planning to relaunch the sale process for Silicon Valley Bank after failing to attract buyers in its latest auction, with the regulator seeking a potential break-up of the failed lender. The FDIC will invite bids for SVB's depositary bank on Friday in a separate auction process. The regulator is considering retaining some of the assets that are underwater at the failed lenders.
Originally Published 2 years ago — by Reuters
The FDIC is planning to relaunch the sale process for Silicon Valley Bank (SVB) after failing to attract buyers in its latest auction, with the regulator seeking a potential break-up of the failed lender. The FDIC will invite bids for SVB's depositary bank, which includes all its consumer deposits, on Friday in a separate auction process. One of the options under consideration by the regulator is a sale process for the private bank of SVB for which bids are due on Wednesday.