Toys “R” Us filed with the U.S. Bankruptcy Court a statement regarding the auction and notice of stalking horse bidder for sale of the Company’s Canadian equity.
The notice states, “On April 19, 2018, consistent with the Canadian Bidding Procedures Order and Canadian Bidding Procedures, and in consultation with the Consultation Parties, the Debtors designated a Stalking Horse Bidder and entered into a Stalking Horse Agreement.”
The Debtors have determined Fairfax Financial Holdings Limited is the stalking horse bidder with its $300 million offer; however, bidders have until April 23, 2018 to submit competing offers.
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