LSC Communications announced the results of their bankruptcy auction today, a purchase agreement for “substantially all the company’s assets” with an affiliate of private equity investor Atlas Holdings for $63.4 million in cash and the assumption of “certain specified liabilities,” including the company pension plan. The transaction is expected to close in the fourth quarter, pending approval by the bankruptcy court. There is a sale hearing scheduled for tomorrow. Atlas owns 21 manufacturing and distribution businesses, including paper producers Finch and Twin Rivers. Atlas had been the “stalking horse” bidder. LSC ceo Thomas J. Quinlan III says in the announcement, […]
