Lowe’s reportedly bidding $205M for Orchard Supply Hardware

Home improvement retailer Lowe’s will reportedly bid to acquire 60 of California-based Orchard Supply Hardware‘s 91 stores, with an option to acquire the others, in a $205 million deal expected to be in a proposed recent Chapter 11 bankruptcy filing. Lowe’s would be the so-called stalking horse bidder in the deal, which means other bidders would have a chance to offer more for the chain, which has about $230 million in debt on the books. Read The Wall Street Journal story here.