Milacron Will Ask To Close Asset Sale To Lenders

Law360, New York (June 24, 2009, 12:00 AM EDT) -- Bankrupt chemical processing company Milacron Inc. said Thursday that it had not received by the Wednesday deadline any bids for its assets higher than the $175 million its senior secured noteholders offered in a deal last month, and that it would ask the court for permission to close the deal.

Milacron will ask the U.S. Bankruptcy Court for the Southern District of Ohio to approve its definitive agreement with MI 363 Bid LLC, the company formed by a conglomerate of senior secured noteholders, at a hearing...
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