Cronimet’s Keywell bid trumped by KW Metals

Dec 11, 2013 | 03:47 PM | Rey Mashayekhi

Tags  Keywell, Cronimet, KW Metals Acquisition, Prophet Equity, scrap, processor, bankruptcy, Mark X. Mullin Haynes & Boone

NEW YORK — Cronimet Corp.’s bid to acquire bankrupt scrap processor Keywell LLC has reportedly been foiled by KW Metals Acquisition LLC, a newly formed entity backed by private equity firm Prophet Equity LP, AMM has learned.

Sources with knowledge of the bankruptcy court proceedings said a purchase agreement and sale order detailing KW Metals’ bid for Keywell, pending the bid’s approval, will be released after the sale hearing is expected to conclude Dec. 12.....

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