Bankrupt Hardware Co. On Track To Be Scooped Up By Lowe's

Law360, Wilmington (July 08, 2013, 5:26 PM ET) -- A Delaware bankruptcy judge signed off on Orchard Supply Hardware Stores Corp.'s revised bid procedures Monday, paving the way for an auction of the home-and-garden chain next month, in which Lowe’s Home Improvement LLC is the $205 million stalking horse bidder.

U.S. Bankruptcy Judge Christopher S. Sontchi approved the reworked and unopposed auction terms — which reduce the initial overbid amount by $3 million, among other changes — following a brief hearing. The revisions resolve two limited objections and incorporate comments from both the U.S. Trustee...
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