RE: Achageon bankrupcy16 Apr 2019 17:51
The proposed bidding procedures, if approved by the Court, would allow interested parties to submit binding offers to acquire substantially all of Achaogen's assets, which would be purchased free and clear of the Company's indebtedness and liabilities. Interested parties could include both strategic and financial buyers, for whom substantial due diligence materials are available. The sale process is expected to proceed according to the following timeline:
Bids expected to be submitted by May 29, 2019
Structured auction targeted to commence no later than June 3, 2019
Sale intended to be concluded by June 13, 2019
Not all bad after all, also 30% up right now.