We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Werner Picks Stalking Horse Bidder

Law360 (March 22, 2007, 12:00 AM EDT) -- After much debate, Werner Co. has designated a lead bidder in the auction for its assets, choosing a $265 million offer put forth by two first-lien lenders in the ladder maker’s bankruptcy case.

On Wednesday, the U.S. Bankruptcy Court for the District of Delaware signed off on Werner’s choice for the stalking horse bidder- Black Diamond Capital Management and Brencourt Advisors LLC.

The investment companies have been fighting a group of second-lien lenders, known as WH Acquisition Co., for the top bidding spot since January....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.