Daily News: April 9, 2012

DRI Names Levine Leichtman Its Stalking-Horse Bidder


DRI Corporation, a digital communications technology provider in the global surface transportation and transit security markets, announced that it has entered into a definitive agreement with an affiliate of Levine Leichtman Capital Partners (LLCP) in which LLCP will act as the stalking-horse bidder in the sale of substantially all of DRI’s businesses and assets under section 363 of Chapter 11 of the U.S. Bankruptcy Code. DRI filed Chapter 11 on March 25, 2012 in order to facilitate a sale.

DRI’s acquisition agreement with LLCP provides that in the event additional qualified prospective bidders desire to bid for DRI