Aberdeen News: Lincoln Intl Seeks Stalking Horse Bid for Beef Plant
According to the Aberdeen News , a federal bankruptcy judge approved Aberdeen, SD-based Northern Beef Packers’ request for $2.25 million in credit so it can employ Lincoln International to pursue a sale.
Judge Charles Nail approved Northern Beef Packers’ request, the newspaper reported. Aberdeen News said further that Nail previously approved the Aberdeen plant’s hiring of Lincoln International, which will seek a ‘‘stalking horse’’ bid in which one potential buyer makes an initial offer to set the floor for an auction.
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