Marquee Brands LLC made a bid to acquire e-commerce business and other assets of Destination Maternity Corporation (OTCPK:DEST.Q) for approximately $50 million on December 3, 2019. The bid of approximately $50 million also involves the assumption of certain liabilities. As on December 20, 2019, Marquee Brands LLC and Destination Maternity Corporation entered into asset purchase agreement. The acquisition includes intellectual property, e-commerce business and other assets of Destination Maternity Corp., including its trademarks: Motherhood Maternity, A Pea In The Pod and Destination Maternity. The transaction will be terminated if the parties in the transaction mutually agree for termination or not approved by the bankruptcy court. The transaction is subject to final approval by the United States Bankruptcy Court for the district of Delaware at a hearing scheduled on December 12, 2019, and customary closing conditions set forth in the purchase agreement. As on December 13, 2019, the Bankruptcy court approved the transaction. The transaction is expected to complete by December 20, 2019. James R. Langdon of Moore & Van Allen PLLC acted as legal advisor for Marquee Brands, LLC. Chris Dickerson and Kfir Abutbul of Paul Hastings LLP acted as legal advisor for Marquee Brands, LLC in the transaction. Steve Toth and Mariska S. Richards of Kirkland & Ellis LLP and Landis Rath & Cobb LLP acted as legal advisors and Greenhill & Co., Inc. (NYSE:GHL) acted as financial advisor for Destination Maternity Corporation. Marquee Brands LLC completed the acquisition e-commerce business and other assets of Destination Maternity Corporation (OTCPK:DEST.Q) on December 20, 2019.