Monday, April 8, 2019

Eddie Lampert’s ESL in bid for Sears Hometown and Outlet Stores

Chain Store Age
Sears Hometown and Outlet Stores said Monday it received a proposal from Transform Holdco LLC to acquire all of the retailer’s stock that isn’t already owned by Eddie Lampert’s hedge fund, ESL Investments Inc., and its affiliates, for a purchase price of $2.25 per share. (Transform Holdco is an entity of ESL.)

The retailer said that a special committee of independent directors concluded, after a review, that a transaction on the terms contemplated by the proposal wouldn’t be in the best interests of the company’s unaffiliated stockholders. However, the parties are continuing discussions regarding potential transactions.. . . more