Midway Sets Timeline for Asset Sale

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MidwayMidway Games has established a timeline for the sale of its assets. Midway's financial advisor, Lazard, will accept binding offers through June 24 (assuming those offers comply with procedures that will be announced on June 2). On June 29, an auction will be held to determine the combination of bids that result in the highest payment to Midway's creditors. As previously reported, Warner Bros. Entertainment has already offered to acquire most of Midways assets for $33 million, setting a likely minimum value for the auction.

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This page contains a single entry by Editor published on May 28, 2009 12:36 PM.

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