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Silicon Graphics

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

Submitted by darkjedi521
darkjedi521 (744526) 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."

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