Eddie Lampert sweetens Sears bid by $600 million ahead of an auction that will decide the company's fate

Business Insider | 1/11/2019 | Hayley Peterson
blockstyle (Posted by) Level 3
Click For Photo: https://amp.businessinsider.com/images/5c376348ad95714e3a546cda-1920-960.jpg

Sears Chairman Eddie Lampert on Wednesday boosted his takeover bid to $5 billion, up from $4.4 billion.

Lampert's new proposal will be assessed against competing parties' bids at an auction scheduled for Monday.

Lampert - Offer - One - Liquidation

Lampert's offer is the only one that would avoid a liquidation.

Sears Chairman Eddie Lampert has sweetened his bid for the company's assets in a final attempt to avoid a liquidation.

Lampert - Affiliate - Hedge - Fund - ESL

Lampert, through an affiliate of his hedge fund, ESL Investments, on Wednesday submitted a $5 billion takeover bid, which was revised from an earlier bid worth $4.4 billion that Sears had rejected.

Lampert's new bid, which would assume additional Sears liabilities worth roughly $663 million, will be assessed against competing parties' bids at an auction scheduled for Monday.

Bid - Approval

The winning bid must get approval...
(Excerpt) Read more at: Business Insider
Wake Up To Breaking News!
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!