May 21, 2015, 3:51 AM
- A U.S. bankruptcy judge has cleared the way for RadioShack (OTCPK:RSHCQ) to sell its trademark, customer data and other intellectual property to a Standard General affiliate for about $26M, rejecting a competing bidder's claim that the auction process was unfair.
- RadioShack also resolved objections to the sale from several state attorneys general who were concerned the deal could threaten consumers' privacy.
- Previously: Standard General wins auction for RadioShack brand (May. 14 2015)
Mar. 25, 2015, 2:03 AM
- Countering the bids of several liquidators, Standard General has increased its offer for 1,740 stores of bankrupt electronics retailer RadioShack (NYSE:RSH), raising its original $145M bid by at least $20M with a promise to keep 7,500 jobs.
- According to sources, the auction is being complicated by disputes among creditors over how the hedge fund would pay for its bid. Much of Standard's offer is taking the form a "credit bid," or a pledge to forgive some of what it is owed.
Feb. 3, 2015, 2:24 AM
- A new Bloomberg report suggests that Amazon (NASDAQ:AMZN) has discussed acquiring some RadioShack (NYSE:RSH) locations, joining other potential bidders, including Sprint (NYSE:S) and investment group Brookstone.
- Amazon would use the stores as showcases for its hardware, as well as potential pickup and drop-off centers for online customers.
- The NYSE suspended trading of RadioShack's shares yesterday, after it failed to have an average market value of at least $50M for 30 straight days.
Feb. 2, 2015, 1:45 PM
- RadioShack (RSH -20.5%) might sell half of its stores to Sprint (S -0.3%) as part of a bankruptcy arrangement, reports Bloomberg.
- Sources say the remainder of the electronics chain's stores will be closed under the proposed deal.
- A co-branding partnership with Sprint or a last-minute acquisition of RadioShack by a new player are also scenarios which are still possible.
- Previously: Standard General likely act as lead bidder for RadioShack (Feb. 02 2015)
Jul. 15, 2013, 12:06 PM
RadioShack (RSH +3.3%) rallies after TheDeal discusses its buyout potential (video). The site observes new CEO Joe Magnacca helped turn around Duane Reade while it was owned by P-E firm Oak Hill, prepping the drugstore chain for a sale to Walgreen. Much as he did at Duane Reade prior to its sale, Magnacca has been busy renovating RadioShack's stores and refreshing the company's product lineup, with an eye towards selling more high-margin goods.| Jul. 15, 2013, 12:06 PM | 2 Comments
Feb. 10, 2012, 8:48 AM
Options traders are increasing bets that RadioShack (RSH) will become a takeover target, as the cost of calls to buy shares priced 10% above RSH’s stock reached a five-year high this week vs. puts to sell on comparable one-month contracts. Shares trade at 5.8x profit, lowest of any major U.S. specialty retailer, Bloomberg calculates. RSH +0.4% premarket.| Feb. 10, 2012, 8:48 AM | 1 Comment