Landauer Pursues Ch. 11 Plan After Stalking Horse Debt Buy

Law360, Wilmington (September 26, 2013, 5:49 PM EDT) -- Medical equipment supplier Landauer-Metropolitan Inc. told a Delaware bankruptcy judge Thursday it intends to pursue an acquisition through a Chapter 11 plan rather than a Section 363 sale after stalking horse bidder Quadrant Management Inc. purchased the company's senior debt.

Landauer Metro filed for Chapter 11 last month with Quadrant lined up as a $22 million stalking horse but had received no other qualified offers by Monday's bid deadline, debtor's counsel Mackenzie L. Shea told the court, and Quadrant informed the company on Tuesday that it...
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