Hussey Copper Bankruptcy Deal Chills Competition: Bidder

Law360, New York (October 13, 2011, 2:43 PM EDT) -- A potential competing bidder for bankrupt Hussey Copper Corp. on Monday said a stalking horse deal already in place was unfair and asked a Delaware judge to reject fees and terms it said would hamper the auction.

Revere Copper Products Inc. said a deal for an affiliate of St. Louis metals trader Kataman Metals LLC to purchase the company and five affiliates for $84.7 million includes unreasonable breakup fees and could have a chilling effect on competing bids.

The deal with KHC Acquisition was already in...
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