The judge presiding over the bankruptcy proceedings of the UFC backed Xyience Energy Drink rejected a last minute bid by a New Zealand base company, calling the offer a “ghost bid”.

A New Zealand company’s $15.5 million cash offer for a Las Vegas energy drink company is a “ghost bid”, according to an American lawyer.

Bankruptcy Judge Mike Nakagawa today approved the $15 million sale of Xyience, maker of Xenergy energy drink, to Manchester Consolidated Corporation, rejecting a last minute $15.5 million cash offer from New Zealand’s Medici Group Holdings, the Las Vegas Business Press reported.

The case has attracted American media attention because of the drink company’s sponsorship of the Ultimate Fighting Championship, a televised mixed-martial arts contest.

Medici Group made its cash offer in a call before the hearing, financial analyst Edward Burr said.

A lawyer for a Xyience debtor said Medici was not present at the hearing and had missed bidding and deposit deadlines.

“All we have here is a ghost bidder. (The Manchester offer is) the only deal here.

NZ company’s $15m cash offer a ‘ghost bid’ @ Stuff.co.nz