OTHER NEWS - Jan. 7, 1993 - Los Angeles Times
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OTHER NEWS - Jan. 7, 1993

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From Times Staff and Wire Reports

Taiwanese Firm Bids on Schwinn: Giant Manufacturing Co. of Taiwan said it will offer $45 million for Schwinn Bicycling Co., which filed for Chapter 11 bankruptcy protection last fall and is now in a U.S. Bankruptcy Court hearing. Schwinn last week tentatively accepted a $40.8-million offer from joint-venture partners Zell-Chilmark Fund and Scott U.S.A. Arguments in Schwinn’s asset-auction hearing have centered on whether further bids must conform to the format of the Zell-Chilmark offer. A potential bidder, Roadmaster Industries Inc of Englewood, Colo., has argued against the restrictions, Schwinn said.

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