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BIND Therapeutics Determines Pfizer's $40 Million Bid Is Highest and Best in 363 Auction for Substantially All of BIND's Assets

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PFE

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BIND

100%

Additional Information

Additional Relevant Details Pfizer Inc. (NYSE: PFE) prevailed at a Section 363 auction to purchase substantially all of BIND's assets. The winning bid of $40 million, subject to U.S. Bankruptcy Court approval for which a hearing is scheduled to take place on July 27, 2016, was selected as the highest and best bid. NanoCarrier Co., Ltd. has been selected as the back-up bidder. The Company plans to disclose additional terms of its agreement with Pfizer upon Court approval.BIND initiated voluntary Chapter 11 bankruptcy protection on May 1, 2016 and conducted a sale of assets, pursuant to Section 363 of the Bankruptcy Code, during an auction held on July 25 and 26, 2016.
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Slingshot Insights Explained
Strategic Initiative Date
Announcement Date:
Jul 26, 2016
Projected Implementation:
Q3, 2016
Relevance Tracked Until:
Q4, 2016
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Related Keywords Assetes, Acquisition