Savient Pharmaceuticals Inc (fka SVNTQ)

[Asl777]

Hi folks, I came across the following website article on SVNTQ

http://www.themiddlemarket.com/news/weekly-wrap-centene-crealta-verizon-246327-1.html


Crealta Pharmaceuticals LLC, a majority owned unit of GTCR LLC agreed to launch a challenging offer to acquire the entire share capital of bankrupt Savient Pharmaceuticals Inc (Savient), a Bridgewater-based manufacturer and wholesaler of pharmaceutical products, for an estimated $120.4 million. Previously, US WorldMeds LLC agreed to acquire the entire share capital of bankrupt Savient.

Does this mean that it wasn't an Asset Sale rather a Sale of the Share Capital and what does this mean for the SVNTQ Common Share holders, do they stand any chance to be paid in cash or kind in any way?