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Sale of Schwinn/GT takes another turn - BikeBiz

Sale of Schwinn/GT takes another turn

Who's going to get Schwinn/GT? The US trade mag reports that another two bidders have revealed themselves, and both have outbid Huffy's $60m. But, Huffy may stump up more cash if the sale looked as though it was going elsewhere
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According to breaking news on http://www.bicycleretailer.com US bike supplier Pacific has lodged a $70 million offer for Schwinn/GT's cycling and fitness divisions. And US supplier Direct Focus is prepared to buy the whole group.

Schwinn/GT will be sold via a court-supervised auction and a bid for the whole group would be the most attractive deal.

The bankruptcy judge will rule on the bids from Pacific and Direct Focus tomorrow afternoon.

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