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Silicon Graphics

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

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.

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