Court Approves Sale of Taylor Building Products to Wausau SupplyDecember 21st, 2012 | Category: Industry News
The United States District Court in the Southern District of Ohio has approved the sale of the assets of Taylor Building Products to Wausau Supply Co. Though an auction was set to take place on December 18, no additional bids were received, so the auction did not occur. Thus the bid from Wausau was submitted as the highest and best bid.
According to court documents, the consideration provided by the purchaser for the assets pursuant to the asset purchase agreement is fair and reasonable and the highest and best offer for the assets and will provide the greatest recovery for the value of the assets than would be provided under any other practical available alternative.
The transfer of the assets includes the sale of real estate which “shall be free and clear of all interests of any kind or nature …”