THQ Sale Conditions Objected by Creditors
Posted by Adam Larck on 01.03.2013
Company delisted from NASDAQ.
The sale of THQ to Clearlake Capital Group may not be in the clear.
According to GamesIndustry.biz, creditors and US Trustee Roberta DeAngelis have filed an objection regarding the time table of the sale, saying the 30-day window was too small to allow competition in the same.
The creditors claim the sale procedures "appear to have been designed specifically to thwart any potential bidders from stepping forward to compete with Clearlake's bid."
A hearing is set for tomorrow to review the claims.
In addition, THQ stock has been delisted from NASDAQ, and is now traded on over-the-counter markets, meaning sales take place directly between two parties over the phone or online. It's now being sold as THQIQ, instead of its former THQI.