Bear Stearns Seeks Back-Up Bid In PlusFunds Sale

Law360, New York (April 25, 2006, 12:00 AM EDT) -- Bear Stearns Asset Management Inc. is still fixing to purchase PlusFunds Group Inc., even though the sale of the investment-fund manager to private equity firm FTVentures has already been cleared by the bankruptcy judge.

Bear Stearns has asked the U.S. Bankruptcy Court in Manhattan to revise the sale in order to squeeze itself into the fine print and be named the back-up bidder in the PlusFunds auction. As a back-up, Bear Stearns would take over PlusFunds if FTVentures fumbles the deal.

The company spoke up after...
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