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...
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