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Submission Summary: 0 pending, 7 declined, 1 accepted (8 total, 12.50% accepted)

Silicon Graphics

+ - SGI Files for Chaper 11, plans to sell off assets

Submitted by darkjedi521
darkjedi521 writes: According to Bloomberg, SGI filed for Chapter 11 bankruptcy April 1st with plans to sell its assets to Rackable Systems unless another buyer is willing to come forward and pay a higher per share price than Rackable. According to the Mercury News, the sale is for $25 million, though the chapter 11 proceedings leave the possibility of sale to another entity open.

"Who alone has reason to *lie himself out* of actuality? He who *suffers* from it." -- Friedrich Nietzsche

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