Aug

Sears CEO Bids $470 Million for Kenmore, Home-Improvement Units

Lampert’s hedge fund ESL submits a non-binding proposal
Fund says it will also solicit buyers for real estate assets

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…

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Sears CEO Bids $470 Million for Kenmore, Home-Improvement Units

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