Dairy Farmers of America offers $425M for bankrupt Dean Foods’ assets

Dairy Farmers of America (DFA) announced it submitted a $425 million offer Monday to buy some of bankrupt Dean Foods’ assets. DFA’s stalking horse bid sets the floor price of the sale of Dean, the country’s largest milk producer, to prevent low-ball offers ahead of its April 13 deadline and potential auction set for April 20. If Dean, headquartered in Dallas, accepts a rival bid, it has agreed to pay a breakup fee of $15 million to DFA, according to court documents.