Standard General Wins RadioShack Auction
According The Street , citing court papers, RadioShack filed notice identifying General Wireless, a newly formed unit of hedge fund Standard General, as the winner of an auction with a final offer of about $140.09 million.
The Street notes that a liquidation bid from Hilco Merchant Resources, Gordon Brothers Retail Partners and Tiger Capital Group was tabbed as a backup bid.
The Street said RadioShack rejected a bid from Salus Capital Partners, as it relied on a combination of contingencies tied to the disgorgement of payments made to Standard General and asset-based lenders and the Hilco liquidation bid.
Previously on abfjournal: RadioShack to Fight for Standard General Takeover, March 27, 2015
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