Kmart deal shakes retailers
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WASHINGTON - Two of America&#39;s oldest retail chains revealed a surprise US$11.5-billion merger plan yesterday that will see Kmart and Sears springboard to become the third-largest retailer in the United States.
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Department store group Sears and discount retailer Kmart say they are to merge in a $11bn deal, becoming the US's third largest retailer.
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In the hubbub of Wednesday&#39;s Kmart (nasdaq: KMRT - news - people ) and Sears Roebuck (nyse: S - news - people ) merger stunner, one name has quietly moved to the fore: Edward Lampert, chairman at the Big Red K and a Sears shareholder.
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Sears, Roebuck &amp; Co. and discount retailer Kmart Holding Corp. said on Nov. 17, 2004, that they would merge in an $11 billion deal to form the third-largest US retailer.
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Kmart Holding Corp. will sell 18 stores to Atlanta-based The Home Depot Inc. for $271 million. Home Depot had previously agreed to buy up to 24 Kmart (Nasdaq: KMRT) stores for a price of up to $365 million.
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Retailer Kmart Holdings Corp. KMRT.O  on Monday said it finalized a deal to sell 18 of its stores to  Home Depot Inc. HD.N for $271 million.
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TOLEDO -- Attention Kmart shoppers, the discount retailer is buying Sears. Wednesday, Kmart Holding announced its $11 billion purchase of Sears Roebuck.
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Alan J. Lacy will not be the top man at Sears, Roebuck &amp; Company any longer if the announced merger with Kmart is completed. But he will receive a raise and could take out more than $20 million by cashing out his existing options on Sears stock.
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Kmart Holding Corp. and Sears, Roebuck and Co. merged in an $11 billion stock and cash deal that will create the country&#39;s third-largest retailer, after Wal-Mart and Home Depot.
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Kmarts in Rochester Hills and Woodhaven are among the 50 stores the discount chain will sell to Sears Roebuck &amp; Co. Employees and civic leaders were understandably upset Wednesday after Kmart
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Discount retailer Kmart Holding Corp. and department store operator Sears, Roebuck &amp; Co. said Wednesday that they agreed to merge in an $11 billion cash and stock deal that will create the nation&#39;s third largest
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Sears and Kmart are planning to merge. With the merge, they will become the third largest US retailer, with combined revenue of $55B and more than 3,500 store locations.
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Two struggling retailers with dismal sales merge, and how do investors react? They send the stocks of both companies soaring. With last week&#39;s surprise announcement that Kmart Holding Corp.
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Kmart and Sears announced an $11 billion merger that will make it the third largest retailer in the country. Exactly how the merger might affect the two Tullahoma outlets is still uncertain.
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Sears, Roebuck and Co. is limping into its proposed merger with Kmart. The department-store giant reported an 86 percent drop in fourth-quarter net earnings Thursday after shedding its profitable credit-card unit a year earlier, its results now solely dependent on sagging retail sales.
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NEW YORK - Retailer Kmart Holdings Corp. on Monday said it finalized a deal to sell 18 of its stores to Home Depot Inc. for $271 million.
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AILING US stores giant Kmart is hoping that sharing a sick bed with rival Sears Roebuck will cure its ills. The pair, under siege from Goliaths Wal-Mart and Target, yesterday unveiled plans for a Â£6bn merger.