Endo terminates sale process, will seek sale to stalking horse bidder

By Sarah Lizee

Olympia, Wash., June 21 – Endo International plc terminated a sale process for its assets and has decided to move forward with a sale to the stalking horse bidder, an entity formed by prepetition first-lien debtholders, according to a notice filed Thursday with the U.S. Bankruptcy Court for the Southern District of New York.

The company said that it had received indications of interest, but none were likely to result in submission of a qualified bid.

Because the sale process has been terminated, the company will seek approval of the sale at an accelerated sale hearing on July 28.

The stalking horse agreement includes a credit bid of $5.9 billion of prepetition first-lien debt, as previously reported.

Endo is a Dublin, Ireland-based specialty pharmaceutical company that filed bankruptcy on Aug. 16, 2022. The Chapter 11 case number is 22-22549.

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