the bondholders of Dean are proposing a merger with Borden. They have the cash ready. DOJ will probably prefer this over sale to DFA.
Can someone confirm this?
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If only we could convince trump that milk cures covid lol
yep, the small independent farmers are toast. DFA will NOT allow Dean to buy milk from non-DFA members. DFA will monopolize the US dairy market.
USDA? Think you're confused about which gov't agency does what
So the USDA is ok with the largest raw milk supplier buying the largest milk processor in the US? Independent farmers will have no choice but to either join DFA or go bankrupt...why would DFA let Dean buy milk from non-DFA members?
One bankrupt company buying another bankrupt company owing hundreds of millions of dollars, that sounds like a recipe for success!
Shareholders have seen the writing on the wall and given up but bondholders gonna keep at it for another week I guess.
For those of you with a short memory, Dean Foods approached Borden shortly after Borden's Chapter 11 filing and Borden's response was "sorry, not interested". Dean Foods begged and pleaded and Borden finally agreed to a meeting, but meeting ended quickly with Dean Foods being laughed out of the room (my paraphrasing of the reports at the time).
So even if it came down to bondholder's Plan B, Borden would have to have had a major change of heart to even consider it.
If you read the court documents it is a "plan B" proposal IF the approved purchases are not consummated.
There is a WSJ article talking about it that just came out half an hour ago. Its a merger of Borden and Dean Foods for the both companies not the remaining assets.
I think you are considering old news? Not today's status?
This is over based on what I understand, unless you are speaking to other assets not sold to DFA that has already approved.
They are positioning as an alternative to DFA because the DFA deal poses significant antitrust issue. It all depends on whether DOJ would approve the DFA deal.
You mean for the remainder of the assets that DFA didn't buy?
Too little, too late. Bidding process ended. Conditions of the agreements have been met. Sales to be finalized on or before the May 1 deadline.