Law360, New York (October 07, 2010, 3:46 PM ET) -- A bankruptcy court judge has approved bidding procedures for Chem Rx Corp. that include a 2 percent breakup fee, putting more weight behind PharMerica Corp.'s $70.6 million bid for the pharmacy chain.
In a Wednesday order, Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware also set an Oct. 29 auction date and Nov. 2 sale hearing date for Chem Rx.
The ruling puts PharMerica, now the stalking horse bidder, in the lead for Chem Rx. Any further bid would have...
Chem Rx's Bidding Procedures, Breakup Fee OK'd
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