Daily News: September 27, 2013

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.

To read the entire article, click here.