Monster Beverage Corp. won bankruptcy court approval to acquire former rival Bang Energy out of Chapter 11 for $362 million and settle litigation between the energy drink companies.
Judge Peter Russin said Wednesday he’d approve the settlement and sale — averting the shutdown of Bang Energy, which has faced an uncertain future after its board fired founder and former Chief Executive Officer Jack Owoc earlier this year.
The tie-up remains subject to additional customary closing conditions, lawyers said.
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