Troubled retailers Sears, Kmart merge
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Two battered icons of the American shopping landscape, Kmart and Sears, yesterday announced an $11 billion merger that will create the nation&#39;s third largest retailer, with 3,500 stores.
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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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BIRMINGHAM, Ala. -- Two big stores are preparing for a mega-merger. Kmart Holding Corp. and Sears, Roebuck and Co. have decided to join forces.
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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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NEW YORK - US department store operator Sears, Roebuck &amp; Co. and discount retailer Kmart Holding Corp. Wednesday said they would merge in an $11 billion deal to form the third-largest US retailer.
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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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The US retail companies Sears Roebuck and Company and K-Mart have agreed to merge in a deal they say is worth $11 billion. The merger announced early Wednesday will create a new company called Sears Holding Corporation.
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Wednesday&#39;s announcement that Kmart is acquiring Sears in an $11 billion deal spawned a lot of questions and comments at the Rolla outlets of the two companies.
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Kmart Holding Corporation, parent company of the discount retail chain, said it had finalized the sale of 50 stores to Sears, Roebuck and Co for 575.9 million dollars in cash.
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Kmart Holding Corp and Sears, Roebuck and Co said Wednesday that they are merging to form a new retail company called Sears Holdings Corp that will be the US&#39; third-largest retailer with about US$55 billion in annual revenues.
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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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The fate of two local retail stores may not be known for months in the wake of the announcement Wednesday of the $11 billion merger of Kmart and Sears.
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The sudden merger of Sears and Kmart in an $11 billion deal will create a merchandising behemoth that might hold its own against Wal-Mart and Target.
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What will happen to Grass Valley&#39;s Kmart and Sears stores remains to be seen after their parent firms announced a merger Wednesday.
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The US discount retailer Kmart Holding Corp. announced on Wednesday it is combining with Sears, Roebuck &amp; Co. in an 11-billion-dollar deal that will create the third largest retailer in the United States.
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US department store operator Sears, Roebuck &amp; Co. (SN: Quote, Profile, Research) and discount retailer Kmart Holding Corp. (KMRT.
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The merger of Sears, Roebuck &#38; Co. and Kmart Holding Corp. will produce a retailer to be known as Sears Holdings Corp. The combined company has applied to list its stock on Nasdaq under a yet-to-be-announced stock symbol, the two companies said in merger documents filed Tuesday.