With No New Bids Performance Sports To Sell Assets To Sagard Fairfax
Sagard, Performance’s biggest shareholder, and Fairfax had agreed in October to act as “stalking horse” bidders to buy most of the Bauer ice hockey gear maker’s assets and its North American units for $575 million. A “stalking horse” bid is an opening offer that other interested bidders must surpass if they want to buy the company. The auction scheduled for Jan. 30 will not be held as no qualified bids were submitted by the deadline of Jan....