Dallas Mavericks owner Mark Cuban on Forever 21 filing for bankruptcy, the IPO market and whether he’s running for president.
Dean Foods Co. Tuesday said it filed for chapter 11 bankruptcy and is in advanced talks to sell itself to Dairy Farmers of America Inc., the nation’s largest dairy cooperative.
Continue Reading Below
The Dallas dairy producer said it has received a commitment of roughly $850 million in debtor-in-possession financing from some of its existing lenders, which it will use to fund continued regular operations.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Dean Foods said it will use the bankruptcy process to address its debt and unfunded pension obligations while it pursues a sale.
RALPH LAUREN’S AMERICAN DREAM: FROM RAGS TO RICHES
The company said it is advanced talks for the sale of substantially all of its assets to Dairy Farmers of America, adding that any deal would be subject to higher or otherwise better offers in the bankruptcy case.
