A private equity firm founded by golfer Greg Norman appears to be beating Mattel as lead bidder in the auction for children’s tablet maker Fuhu.
The judge overseeing the case said he will approve rules for an auction this month in which an affiliate of Norman’s fund will bid $10m for the firm, which makes Nabi children’s tablets.
Fuhu filed for credit protection last month, with the intention of selling the company to Mattel.
The ruling means there could be a bidding war between Mattel and Australian golfer Norman’s Great White Shark Enterprises.
Judge Christopher Sontchi said: “The two parties who are most interested in the assets are probably already at the table.”