Voyager Acquisition by Binance.US Receives Court Approval
On March 10, the official committee of unsecured creditors of Voyager said on Twitter that the United States court had confirmed the approval of the acquisition
On March 10, the official committee of unsecured creditors of Voyager said on Twitter that the United States court had confirmed the approval of the acquisition of Voyager by Binance.US, and allowed the debtor to switch to self-liquidation when the sale was not completed or the debtor decided not to continue the sale after consultation with the official committee of unsecured creditors.
Voyager creditors: oppose any appeal against the court’s approval of Binance.US acquisition
Analysis based on this information:
The announcement made by Voyager’s official committee of unsecured creditors on Twitter on March 10, 2021, indicates that the United States court has confirmed the approval of the acquisition of Voyager by Binance.US. This development spells relief to the creditors and all other stakeholders invested in Voyager. In a world where mergers and acquisitions fail to materialize, and creditors are left in the lurch, this news provides a measure of security to all those concerned about Voyager’s future. According to the statement, if the sale is not completed, or if the debtor decides not to go ahead with the sale, the debtor has been granted the right to switch to self-liquidation after consultation with the official committee of unsecured creditors.
The acquisition of Voyager by Binance.US represents a strategic move by the latter to gain a foothold in the US market. Binance.US is a cryptocurrency exchange that offers trading for over 50 different digital assets. Voyager, on the other hand, is a crypto broker that allows users to buy and sell cryptocurrencies. With the acquisition, the two entities will leverage each other’s expertise and offer a wider range of services to their customers. Binance.US will have access to Voyager’s client base, which includes over 300,000 users, while Voyager will benefit from the former’s trading infrastructure.
This acquisition represents a win-win scenario for both firms, as they seek to strengthen their position in the cryptocurrency market. The court’s confirmation of the acquisition represents an essential step towards completing the deal, which is expected to be finalized by the end of March 2021.
In conclusion, the official committee of unsecured creditors’ announcement on Twitter regarding the confirmation of Voyager’s acquisition by Binance.US is a significant development for both firms. The acquisition represents a strategic move by Binance.US to gain a foothold in the US market, while Voyager will be able to leverage Binance.US’s trading infrastructure. The decision to allow the debtor to switch to self-liquidation if the sale is not completed provides a measure of security to all stakeholders invested in Voyager. It is expected that the deal will be finalized by the end of March 2021, which will be a turning point for both firms.
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