Sears chairman makes $4.4 billion bid to save company
NEW YORK (UPI) -- Sears received a reprieve from liquidation after chairman Edward Lampert made a $4.4 billion bid to buy it at the last minute. Lampert submitted the $4.4 billion offer Friday through Transform Holdco, an affiliate of his hedge fund, ESL Investments, just before a 4 p.m. deadline Friday, CNBC first reported. The offer for 425 Sears stores has a $1.3 billion financial commitment from three financial institutions, ESL said in a Wall Street Journal report. The 125-year-old […]
