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Article: BERKSHIRE GETS NOD TO BUY FTL.(bankruptcy court approves Berkshire Hathaway Inc.'s offer to buy Fruit of the Loom)(Brief Article)
- Article from:
- WWD
- Article date:
- January 4, 2002
- Author:
CopyrightCOPYRIGHT 2002 Conde Nast Publications, Inc. 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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NEW YORK -- A Delaware bankruptcy court on Wednesday approved Berkshire Hathaway Inc.'s $835 million offer to buy Fruit of the Loom, but not everyone is delighted with the reorganization process.
Although no other bidders came forward at the court-sponsored auction Wednesday, Berkshire, led by investment expert Warren Buffett, still faces an appeal filed in a federal district court by several bondholders who objected to the fee arrangement connected with the bidding procedures.
In a separate legal track in bankruptcy court, a hearing on FTL's revised disclosure statement will be heard on Feb. 3. Assuming Bankruptcy Court Judge Peter Walsh approves the ...