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Bankrupt Teligent Announces Opening Bids Totaling $64m For Its Assets

Includes Key US Manufacturing Facility And Canadian Assets; Teligent Seeks Auction

 
• By Dean Rudge

Opening bids totaling $64m have been submitted for bankrupt Teligent’s assets across the US and Canada, weeks after the injectables specialist entered Chapter 11 bankruptcy proceedings.

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Teligent had slipped into negative equity • Source: Shutterstock

The bankrupt topicals and injectables specialist Teligent has found initial bidders for its assets a little over a month after entering Chapter 11 bankruptcy proceedings. Three stalking horse bidders have submitted three separate offers totaling $64m to snap up the US-based firm’s physical and intangible assets in the US and Canada.

With a bidding floor in place, Teligent is seeking to “promptly effectuate the sale transactions” subject to a “competitive bidding process,” according to a 24 November

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