Express Inc (OTC:EXPR) and subsidiaries file Chapter 11 petitions, signaling a strategic move to optimize operations and strengthen financial position. The retailer plans to shutter 95 stores, including all UpWest outlets, with a commitment of $35 million in new financing. Amidst this restructuring, Express receives $49 million from the IRS and eyes a potential majority stake sale to WHP Global-led consortium.
BridgeBio Pharma Inc (NASDAQ: BBIO) is reportedly attracting takeover interest as some large pharmaceutical companies are studying a potential acquisition of the biotech firm.