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Article: Jacobs bids for his own company; Bankrupt boat builder Genmar Holdings has been seeking a buyer since August.(BUSINESS)
- Article from:
- Star Tribune (Minneapolis, MN)
- Article date:
- November 4, 2009
CopyrightCOPYRIGHT 2009 Star Tribune Co. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: SUSAN FEYDER; STAFF WRITER
Five months after taking his boat manufacturing company into bankruptcy, Twin Cities businessman Irwin Jacobs is trying to buy the business back.
Jacobs said Tuesday he expects to be the high bidder for Genmar Holdings Inc., which began looking for buyers after being unable to reach an agreement with the company's unsecured creditors since filing for Chapter 11 bankruptcy in June.
It's a deal that would be appropriate for Jacobs, who made his name by buying bankrupt firms.
Genmar, with the help of adviser Houlihan Lokey Howard & Zukin Capital Inc., has been looking for buyers since August, according ...
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