NYSE Suspends Trading in Dean Foods (DF), Moves to Delist
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The New York Stock Exchange LLC announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of Dean Foods Company (NYSE: DF) from the NYSE. Trading in the Company’s common stock will be suspended immediately.
NYSE Regulation reached its decision that the Company is no longer suitable for listing pursuant to Listed Company Manual Section 802.01D after its November 12, 2019 announcement that it filed voluntary petitions for reorganization under Chapter 11 of the U.S. Code in the United States Bankruptcy Court for the Southern District of Texas. In reaching its delisting determination, NYSE Regulation noted the uncertainty as to the timing and outcome of the bankruptcy process, as well as the uncertainty as to the ultimate effect of this process on the value of the Company’s common stock.
The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the ordinary shares upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision
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