I too initially thought there was a slim chance of a good outcome here, given the strong balance sheet, milk being an essential staple and all that. But looking at how INEPT their management is, complete lack of foresight on how to strategically position themselves due to the demographic changes in consumption, I concluded that neither can anyone save this sorry excuse of a company nor do they deserve to be saved. Recall that Saputo passed on Deans last May, stating that it was a "volume" play not a value play.
Completely idiotic management, CEO after CEO just in it for the $$$ and then there was DFA, hell bent on destroying value. They were owed $173 M by Deans and so basically said, "hey dudes, we're now gonna take over the farm, chickens, goats, tractor and your grandma but you can't say a word cause you're too dumb, so just shut up and get out". So they did. In the end, no one wants to deal with legacy plants, underfunded pensions, union labor and what not. As was correctly predicted by analysts early last year, NOT A SINGLE DAIRY or other company expressed interest in acquiring all of Dean Foods so they have no choice but to sell assets to pay off their debts.
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