Sears CEO Bids $470 Million for Kenmore, Home-Improvement Units
Edward Lampert wants to slim Sears down so it can stay standing. Lampert, the chief executive officer of Sears as well as its largest shareholder, is proposing to use his hedge fund ESL Investments Inc. to buy the store’s Kenmore and Sears Home Improvement businesses at a valuation of around $470 million, according to a regulatory filing Tuesday. “We are prepared to move as quickly as possible to complete these transactions, which is in the best interest of all parties involved,” ESL said in a emailed statement to Bloomberg News.
Source:: https://finance.yahoo.com/news/sears-ceo-bids-470-million-223744782.html
