Furniture Brands Wins Court Approval For $280M KPS Deal

Law360, Wilmington (November 22, 2013, 10:37 PM EST) -- A Delaware bankruptcy judge on Friday blessed the $280 million sale of Furniture Brands International Inc. to private-equity firm KPS Capital Partners LP, rejecting an investment fund's objection that an accelerated sale process had left a rival suitor out in the cold.

Broadbill Investment Partners LLC, which holds an equity stake in the furniture maker, argued that a recent decision to tighten the sale schedule prevented Samson Holding Ltd. from submitting a competing offer, while the debtor and its creditors committee countered that Samson had plenty...
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.