Adelphia announced a preliminary timetable for its sale, with the...
Adelphia announced a preliminary timetable for its sale, with the process expected to begin shortly after Labor Day. Company executives said the objective is to complete the auction process by year-end. The company’s financial advisors, UBS Investment Bank and…
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Allen & Co., will manage any sale under the direction and control of the company’s Board of Directors. Adelphia said the financial advisors have had some informal discussions with potential bidders. UBS and Allen & Company will provide information to potential bidders who sign a confidentiality agreement. Adelphia will be soliciting bids both for the entire company and for certain clusters to be announced later. The company expects that preliminary indications of interest will be due in Oct. The company is pursuing a “dual track,” engaged in bankruptcy proceedings at the same time it’s seeking a sale.