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Chem RX Receives No Competing Bids and Cancels Auction $CHRXQ $PMC

|Includes: PharMerica Corporation (PMC)
Earlier today, Chem RX Corporation (Pink Sheets: CHRXQ) filed a notice with the Delaware bankruptcy court announcing that the auction scheduled for the sale of its assets has been cancelled. The auction was cancelled because no qualifying competing bids were received by the 5:00 p.m. deadline on October 27, 2010.  Therefore, Chem RX will seek final court approval of the bid received from its stalking horse bidder, PharMerica Corporation (NYSE: PMC).  PharMerica announced on October 15th that its bid had been cleared by antitrust regulators.

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