November 21, 2019 — In the wake of rumors about Bumble Bee Foods potentially filing for bankruptcy, and that that filing could come this week, the company appears to be in talks with Fong Chun Formosa (FCF) Fishery Company regarding a possible buy-out.
The story, reported by Bloomberg, indicates that FCF would be a “stalking-horse bidder” in the bankruptcy reorganization. Stalking-horse bidders set a low-end bidding bar, which any other companies interested in buying Bumble Bee would then have to either match or exceed.