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Orexigen Therapeutics Auction Cancelled, Stalking Horse Named Successful Bidder

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Orexigen Therapeutics filed with the U.S. Bankruptcy Court a notice of cancellation of auction. The notice states, “the Debtor did not receive any competing qualified bids in addition to the Stalking Horse Bid prior to the bid deadline. Therefore, in accordance with the Bidding Procedures Order, the Debtor has selected and designated the Stalking Horse Bidder as the successful bidder for the Assets; because the Debtor has received no competing qualified bids in addition to the Stalking Horse Bid, the Debtor has cancelled the Auction; and the Debtor will seek approval of the Sale of the Assets to the Stalking Horse Bidder at the sale hearing scheduled on June 28, 2018.”

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The post Orexigen Therapeutics Auction Cancelled, Stalking Horse Named Successful Bidder appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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