44 plants and all the stuff that goes with them for 425 million dollars? That's 9.7 million dollars per plant. That's dirt cheap. When Deans filed bankruptcy and reported they were talking to DFA the lawyer for the bondholders protested. He stated that DFA would get to pick the best assets for cheap and leave the garbage that nobody would want. Well that's EXACTLY what happened. At my plant the land is worth 10 million and the trucks and trailers could be worth a couple million. Maybe get a half million out of the equipment probably more. The lenders, creditors bondholders and shareholders will protest this deal.
And if the deal goes through and if I'm lucky enough to be offered a job I'll be treated as a new hire? DFA won't honor Union contracts. The Teamsters will protest that in court.
DFA has also set the market value for Deans assets. If big bad DFA values each of the plants with all their equipment at only 9.7 million dollars other bidders won't have to offer much to outbid DFA. The city that my plant is located has wanted our property for decades and have made it known they want it. They can submit a bid offering 11 million just for the land and someone else can bid on the rest.
Also if big bad DFA sees Dean employees as new hires another diary that may buy your plant could do the same thing.