Performance Sports Group Ltd. said that bankruptcy courts in the U.S. and Canada have approved the stalking-horse bid for the company, made by Sagard Capital Partners LP and Fairfax Financial Holdings Ltd. Sagard and Fairfax intend to buy most of the Bauer ice hockey gear maker's assets and its North American units for $575 million. The U.S. Bankruptcy Court for the District of Delaware and the Ontario Superior Court of Justice also approved an auction for Jan. 30, 2017, where other interested parties can bid for the company's assets. Under the bidding procedures, interested parties must submit bids, to buy substantially all of the company's assets, on or before Jan. 25, 2017.
