Nov 29 Hedge fund Coliseum Capital Management
LLC, the third-largest shareholder of Performance Sports Group
Ltd, said it was in talks with a third party related to
a potential deal involving the maker of Bauer ice hockey gear.
Performance Sports, which filed for bankruptcy protection in
October, has received a "stalking horse" bid from its largest
shareholder Sagard Capital Partners LP and Fairfax Financial
A "stalking horse" bid is an opening offer that other
interested bidders must surpass if they want to buy the company.
Sagard and Fairfax have agreed to buy most of the company's
assets and its North American units for $575 million.
Coliseum Capital said on Tuesday it had received consent
from Performance Sports' financial adviser to begin discussions
with an affiliate of one of the buyers of the sports gear maker,
according to a regulatory filing on Tuesday. (bit.ly/2gSF0fk)
Performance Sports has also received interest from its
former chairman, who said in October he was talking with U.S.
and Canadian private equity firms about submitting a bid.
Exeter, New Hampshire-based Performance Sports had filed
last month for bankruptcy protection in the United States and
Canada to facilitate a restructuring and sale of almost all of
its assets after it defaulted on a loan payment by missing a
Bloomberg in October reported citing sources that Brookfield
Asset Management was considering a bid for troubled
(Reporting by Anet Josline Pinto in Bengaluru; Editing by