Dean Foods walks away from DFA bid
Dean Foods has walked away from a February deal to sell many of its assets to Dairy Farmers of America. Dean Foods, which is going through bankruptcy, had agreed to sell 44 fluid milk and frozen product facilities, equipment, inventory, real estate, and distribution systems for 425 million dollars. Court documents obtained by Bloomberg say creditors and the bankruptcy judge were not satisfied with the deal.
A spokesperson for Dairy Farmers of America told media DFA still intends to bid on many of the Dean Foods assets before the March 30th deadline.
Dean Foods reportedly avoided additional litigation by abandoning the DFA offer and allowing for additional bidders.