Possible Bidding War Set for Dlubak Corp. Non-Real Estate Assets

摘要

Grey Mountain Partners may-have been the initial "stalking horse" bidder for the non-real estate assets of Blairsville, Pa.-based Dlubak Corp., which filed Chapter 11 bankruptcy in August, but will now have to come up with more money if it hopes to make that dream a reality. Grey Mountain Partners had come forth with an initial $2 million offer, but saw that bid eclipsed in August when General Glass International (GGI) began what might be a bidding war with a tender of its own offer of $2.1 million. The caveat is that GGI says its offer is contingent on an October 3 deal auction that is well past the September 21 date set earlier by the U.S. Bankruptcy Court of the Western District of Pennsylvania.