A new bidder emerges for wireless network provider LightSquared

LightSquared has been pursuing alternative ways out of bankruptcy other than through billionaire Charlie Ergen

LightSquared Inc. had planned to sell of all of its assets in an auction on Dec. 11. But LightSquared has canceled its auction in a court filing, and now, the world knows that it’s because a potential takeover bid is now taking place.

Private equity firm Centerbridge Partners LP has partnered with Harbinger Capital Partners and Fortress Investment Group LLC to bid $3.3 billion for the bankrupt wireless network provider, reports Bloomberg. The offer price reportedly does not include $1.7 billion in loans and liabilities.

Assistant Editor

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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