Dade Behring's Recap Plans
Executive Summary
For more than a year, Dade Behring has been wading through a financial morass that is likely to lead to bankruptcy, a sale of assets, or a reorganization of capital structure. As concerns mount about its long-term prospects, Dade Behring and its lenders are seeking to restructure the company's burdensome long-term debt. While stubborn lenders have been unwilling to accept less than a near-to-full return on their investment, several events this spring seem to be motivating them to be more flexible.