Florida Sawmill Secures $26M Stalking Horse Bid In Ch. 11

By Rose Krebs (August 4, 2020, 8:24 PM EDT) -- A Florida sawmill told the Delaware bankruptcy court Monday that it has a $26 million stalking horse offer from pulp mill operator Mercer International Inc. to set a floor bid for the Chapter 11 sale of its assets.

In a motion filed with U.S. Bankruptcy Judge Karen B. Owens, Klausner Lumber One LLC said it has secured the stalking horse offer from Mercer after negotiations with another potential bidder fell through. Under the new proposed deal, which is subject to potential better offers at an auction scheduled for later this month, Mercer is set to pay $26 million and assume certain...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!