Francesca’s Judge Approves Stalking Horse Bid, Breakup Fee

U.S. Bankruptcy Judge Brendan L. Shannon signed off on Francesca’s Holdings Corp.’s lead bidder and approved a breakup fee in case a higher offer comes in, court papers show.

• The breakup fee would equal no more than 3% of the stalking horse bidder’s purchase price if a better offer comes in, court papers show
• A hearing on the matter was canceled and the signed order was posted to the docket on Monday
• PREVIOUSLY: Francesca’s Gets Stalking Horse Bid from TerraMar Capital
• The case is Francesca’s Holdings Corporation, 20-13076, U.S. Bankruptcy Court for the District of Delaware. To view ...