Reported about 1 month ago
Nexus Capital Management has been approved as the leading bidder to acquire Big Lots Inc. after securing $765 million in financing aimed at supporting its bid. A federal judge confirmed that this deal, which could still attract higher offers before the deadline on October 28, will help pay down a significant amount of Big Lots' debt and potentially preserve numerous jobs. The situation is part of an effort to revitalize the troubled discount retailer amidst bankruptcy proceedings.
Source: YAHOO