Lowe's $205M Bid Reels In Bankrupt Hardware Co.

Law360, Wilmington (August 12, 2013, 3:43 PM EDT) -- With no other emerging bids, bankrupt Orchard Supply Hardware Stores Corp. is going ahead with Lowe's Home Improvement LLC's $205 million stalking horse bid to pick up the bulk of the chain's stores and keep them operating as going concerns, Lowe's said Monday.

Potential bidders had until Friday to put in rival offers, but the deadline passed without a challenge, and Orchard Supply is now set to submit the Lowe's deal for the Delaware bankruptcy court's approval on Aug. 20, according to Lowe's.

The deal would...
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