According to a Jan. 22 Milwaukee Business Journal article, the private equity owners of Briggs & Stratton, based in Wauwatosa, Wisc., are not ready to sell.
No other prospective buyers submitted qualified bids by the deadline, and it appears Briggs will likely be sold to baseline bidder KPS at $550 million for nearly all of Briggs & Stratton’s assets.
A U.S. Bankruptcy Court judge approved Briggs & Stratton Corp.’s proposal for a fast-track sale of the company via auction despite creditors’ objections, while recent court filings show Generac Power Systems remains in the running as a potential bidder.
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