Sears Chairman Lampert Increases Chance For Sears To Escape Liquidation With $5 Billion Bid
Thursday, 10 January 2019 Reuters reported on Wednesday Sears Holding Corp Chairman Eddie Lampert submitted a revised takeover bid after Sears previously rejected his bid of $4.4 billion. The latest revised bid is nearly $5 billion, according to people familiar with the matter, who said the proposal would allow the historic American department store operator to escape liquidation. Lampert agreed to assume tax and vendor bills the company had amassed since filing for bankruptcy protection in October. The sources said the latest bid was submitted through an affiliate of his hedge fund, ESL Investments Inc, along with a $120 million deposit. Sears will consider the new bid during a Jan. 14 bankruptcy auction. The bid...
According to Reuters, there may be a chance Sears escapes liquidation after shutting down many stores. Chairman Eddie Lampert submitted a revised takeover bid for the company of about $5 billion. Lampert agreed to taking up tax and vendor bills Sears received since filing for bankruptcy protection....
According to Reuters, a US bankruptcy judge approved the sale of Sears to its chairman.
Edward Lampert will take over the fallen retail giant Sears Holdings for an estimated $5.2 billion.
The move by..
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Edward Lampert bets he can take Sears public again with a plan for smaller stores and less apparel. The chairman of the Oak Brook, Illinois-based retailer wants... bizjournals Also reported by •Newsmax •Wall Street Journal
Eddie Lampert is quitting his role as chairman of Sears Holdings Corp., effective immediately. He will remain as chairman of Transform Holdco LLC, which now... bizjournals Also reported by •Reuters •Wall Street Journal