Since the last update on January 16, there haven’t been any major developments or announcements. The Teamsters Dairy Conference has submitted a comprehensive information request to Dean in an effort to better understand how Dean plans to move forward in the bankruptcy process.
Federal antitrust regulators are probing a possible deal between a major U.S. dairy cooperative and Dean Foods Co., DFODQ 2.08% the bankrupt milk-processing giant, as the dairy industry realigns after decades of declining milk consumption.
On Tuesday, November 12, 2019, Dean Foods filed for Chapter 11 bankruptcy protection. It’s important to note that many companies file Chapter 11 in an effort to reorganize their debt and capital structure to facilitate a sale to a strategic/industry buyer or to a financial buyer with the goal to continue operating its core lines of business – and one of those options appears to be the case here.
Borden Dairy Co., one of America's oldest and largest dairy companies, on Monday became the second major milk producer to file for bankruptcy in the last two months.