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Sears Chairman Lampert Increases Chance For Sears To Escape Liquidation With $5 Billion Bid

WorldNews Thursday, 10 January 2019
Sears Chairman Lampert Increases Chance For Sears To Escape Liquidation With $5 Billion BidReuters 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...
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Credit: Wochit Business - Published < > Embed
News video: Sears May Be Saved By A Revised Bid From Sears Chairman

▶ Sears May Be Saved By A Revised Bid From Sears Chairman 00:32

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....

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