Briefing

Spartan Bioscience seeks buyer in insolvency process

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The company, which filed for bankruptcy protection on April 5, plans to start accepting letters of intent from prospective buyers or investors interested in restructuring the insolvent firm until May 17. It will select two bids—one winning bid and one backup—from a short list of qualified bidders, with plans to have a transaction complete by the end of June. The Ontario Superior Court first has to approve the process. (The Logic)

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