Bids have been officially announced and posted on the Epiq website! Can someone please disect it and tell us what it means? For example I see that DFA is the successful bidder, but there are alternate bids too. What do the alternate bids mean? Does that mean DFA might not for sure get the plants that have alternative bids?
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Again, DOJ has plenty of other fish to fry right now. They won't get involved in such a small case, that's not even a blip on their "economic" radars. But that's just my opinion. The impunity with which DFA and Deans can try to pull off this scam AFTER BEING REPEATEDLY SUED, FINED AND SETTLED in multiple lawsuits over the last 15 years tells you how gutsy they are in their corruption. No one can stop them.
Somebody doesn't understand anti-trust laws.
Anti-trust laws are Federal laws. The DOJ doesn't answer to this id–t judge. He may rubber stamp this deal but all the DOJ has to do is go to Federal court file a lawsuit and have an injunction slapped on the sale. Also this is a civil case so any other party that feels like this sale will effect their business can file an anti-trust lawsuit in Federal court. However as it has stated earlier the time it takes for the DOJ to review this Dean's will run out of cash or Dean's will run out of cash while lawsuits are filed in Federal court.
Bottom line is nobody in the courts is fighting for our jobs. They are fighting for their money. That's one of the reasons why many Chap 11 filings wind up as Chap 7.
"DOJ doesn't have the stones?! You think the DOJ is just going to sit on its hands while DFA gives them the finger? ... "
Well, first off, the deadline to file objection to this sale is tomorrow April 1st by 12 noon, which DOJ nor anyone else can realistically meet (unless they already got paperwork ready). Second, don't forget the other party to this – bankruptcy court and a dimwit judge who's super-eager to handover the goodies to DFA. So yes, more than likely this will go thru less an act of God intervenes!
DOJ doesn't have the stones?! You think the DOJ is just going to sit on its hands while DFA gives them the finger?The DOJ has a long wrap sheet of DFA violations. Like another poster said, they can just sit on this and let Dean's run out of cash.
I can't seem to find a whole lot about this bid....
Docket 1271
BID 15. IC Frozen Holdings, LLC (Peak Rock)
Certain of the Debtors’ facilities located in Birmingham, Alabama, Belvidere, Illinois,
and Decatur, Indiana
It's listed Docket # 1286
Filed Mar 31 2020
Additional Attachments Re: Bid No. 15 - Hollandia Dairy, Inc. (related document(s):[1271] Notice) (Filed By Southern Foods Group, LLC ).(Related document(s):[1271] Notice) (Attachments: # (1) Exhibit) (Bruner, Robert) Debtor: 19-36313 Southern Foods Group, LLC
But if you open the PDFs It's the correct bidder information of IC Frozen Holdings, LLC (Peak Rock)
Was this an oversight on the winning results possibly?
This still has to be reviewed by the DOJ and the question is, does Dean have enough cash to last while the deal is being reviewed? DOJ can sit on it while "reviewing" the deal and meanwhile Dean's burns through the cash. People have been panic buying milk so at least at my plant we have been buying more milk than usual for this time of year.
"Those alternate bids are probably what the DOJ is going to force DFA to give up in order for the sale to go through. "
No, DOJ is not going to do anything, they don't have the big brass ones, nor do they care about some stupid dairy company that is almost dead. DFA and the other "successful" bidders are the new owners of all of Dean Foods assets, for a total price of $534 million, give or take. This is about $109 million more than what DFA had offered them a month ago. Not bad but pretty lousy for Dean stockholders and bondholders who as usual will be left holding the bag. Dipshit judge has already signaled he's going to approve it.
Aswaubenon WI is listed as Depere. It was bid on by country delight and dfa.
What site are you guys looking at. I was reading the court docket it looks like 21bids.
Deland, FL is actually Orange City, FL
I show these plants weren't bid on to be an operating plant:
Ashwaubenon, WI
Deland, FL
Hayward, CA
Hilo, HI
Honolulu, HI
I may have missed some.
Those alternate bids are probably what the DOJ is going to force DFA to give up in order for the sale to go through.