PE Firm Versa Seeks Info On Rival's Bid For Chopper Parts Co.

Law360, Wilmington (June 26, 2012, 7:21 PM EDT) -- Planning a bid for bankrupt Northstar Aerospace (USA) Inc., Versa Capital Management demanded details on Tuesday about a rival private equity firm's $70 million offer for the helicopter parts manufacturer.

In an objection filed in Delaware bankruptcy court, Versa said that Wynnchurch Capital Ltd.’s stalking horse bid for Northstar USA and its Canadian parent appears to be predicated on modified contracts with the debtors’ top customer, Boeing Co., but the terms of the new deal have not been disclosed.

“[T]he Boeing relationship is critical to the...
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