RadioShack to fight for Standard General takeover

RadioShack Corp. said an offer from Standard General LP to save much of the iconic chain is the best to emerge from an auction, beating out rival offers that would see the retailer shut down.

According to the Wall Street Journal, Standard General has said it would keep 1,743 stores open in a bid valued at about $160 million. More than half of RadioShack's 4,000 stores will be shut down.

The Standard General deal still faces a challenge from Salus Capital Partners, which contends it didn’t get a fair hearing at the auction on a bid it tried to make in an alliance with liquidators.

Read more from the Wall Street Journal.