Solyndra To Auction Factory, HQ With $90M Stalking Horse

Law360, Wilmington (September 24, 2012, 5:41 PM EDT) -- A Delaware bankruptcy judge on Monday cleared Solyndra LLC to auction its sprawling California solar panel factory and headquarters, with hard drive manufacturer Seagate Technology LLC providing the initial $90.3 million stalking horse bid.

At a court hearing in Wilmington, U.S. Bankruptcy Judge Mary F. Walrath signed off on bidding procedures for the auction and tentatively set a Nov. 15 hearing for final approval of the sale to Seagate or another higher bidder.

The auction plan includes a $1.8 million breakup fee and $500,000 expense reimbursement...
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