Lenders dismiss stalking horse bid for Cirque du Soleil restructuring: Reuters

Lenders said the stalking horse bid announced earlier this week for the restructuring of Montreal-based live entertainment business Cirque du Soleil is "inadequate," reported Reuters.

Lenders said the stalking horse bid announced earlier this week for the restructuring of Montreal-based live entertainment business Cirque du Soleil is “inadequate,” reported Reuters. The bid reflects Cirque’s agreement with TPG Capital, China’s Fosun International and Caisse de dépôt et placement du Québec under which the group will take over the company’s liabilities and invest US$300 million to support a restart. The Quebec court hearing into Cirque’s restructuring noted the company has received six non-binding offers, with a deal eyed by September, noted the newswire.

Source: Reuters