Bumble Bee Foods Cleared For $926M Ch. 11 Sale To FCF Co.
Law360, Wilmington, Del. (January 23, 2020, 3:56 PM EST) -- Bumble Bee Foods LLC won a Delaware bankruptcy judge's conditional go-ahead to sell its business to Taiwan-based global tuna trader FCF Co. Ltd. on Thursday, in a $925.6 million deal driven largely by rising burdens from antitrust sanctions and consumer lawsuits.
Cautioning that the approval was conditioned on submission of a final, edited sale order, U.S. Bankruptcy Judge Laurie Selber Silverstein said FCF's stalking horse purchase offer met all requirements of the Bankruptcy Code and represented a "sound exercise of the debtor's business judgment."
FCF's offer was the only qualified bid received for the U.S. and Canada assets of the more...
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