January 9, 2019 / 11:32 PM / 7 months ago

Court gives bankrupt drugmaker Synergy green light to advance sale

Synergy Pharmaceuticals Inc, a bankrupt developer of gastrointestinal therapies, has received court approval to proceed with a plan to sell itself, with Bausch Health Companies Inc serving as a so-called stalking horse bidder.

Bausch has offered $200 million in cash and assumption of some liabilities for Synergy, which sought Chapter 11 bankruptcy protection last month in U.S. Bankruptcy Court for the Southern District of New York. As a stalking horse, Bausch’s offer will serve as floor on bids for Synergy.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2RC9558

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below