USA: Webvan to sell technology to founder for US$2.5m
Failed e-tailer Webvan is in talks to sell its technology to Mercury Acquisitions Corp , a company controlled by Webvan's founder Louis Borders. Borders is expected to pay around US$2.5m for the technology, but other potential buyers will have the chance to submit higher bids at an auction scheduled for 1 October.
Borders is expected to pay around US$2.5m for the technology, but other potential buyers will have the chance to submit higher bids at an auction scheduled for 1 October.
Foster City, Calif-based Webvan Group Inc filed for protection under Chapter 11 of the US Bankruptcy Code in July.
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