Update 1: Kmart, Sears to Merge in $11 Billion Deal
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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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Two of the biggest names in the retail world are becoming one. In an announcement Wednesday, Kmart and Sears, Roebuck &amp; Co. have agreed to merge in a deal totalling $11 billion.
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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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Discount retailer Kmart Holding Corp. is combining with one of the most venerable names in US retailing, Sears, Roebuck &amp; Co., in a surprise $11 billion deal that will create the nation&#39;s third largest retailer.
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LET&#39;S assume that the merger of Kmart and Sears is exactly what it&#39;s being sold as: a way to combine the remaining strengths of two well-known but struggling retailers.
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Discount retailer Kmart Holding Corp. Monday announced that it finalized a transaction to sell 18 stores to Home Depot Inc. for $271 million in cash.
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By Anne D&#39;Innocenzio, Associated Press, 11/18/2004 09:11. NEW YORK  The $11 billion deal between Kmart and Sears is seen as a high-risk gamble to some analysts, who say the struggling discounter and struggling
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Wall Street analysts were sent reeling by the surprise $11 billion (Â£6bn) merger of retailers Sears Roebuck and Kmart. The deal, which was unanimously approved by both companies
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Retailer Kmart Holdings Corp. KMRT.O  on Monday finalized a deal to sell 18 of its stores to Home  Depot Inc. HD.N for $271 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 &#36;271 million.
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Two closed Kmart stores in the Tampa Bay area are among 50 nationwide acquired by Sears, Roebuck and Co. in a $576-million deal announced Wednesday.
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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.
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The planned acquisition of Sears, Roebuck and Co. by Kmart Holding Corp. highlights a changing retail environment that could soon eliminate the department store as we know it, analysts and consultants said on Friday.
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OK, maybe the merger of Kmart and Sears doesn&#39;t exactly put them in the realm of Wally World, but the $11 billion deal is nonetheless impressive.
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Description: Two of the nation&#39;s oldest and best-known retailers -- Sears, Roebuck and Co. and Kmart -- agree to merge in a deal worth an estimated $11 billion.
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Discount retailer Kmart Holding Corp. (KMRT.O: Quote, Profile, Research) will buy department store operator Sears, Roebuck &amp; Co.
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Kmart, fresh from bankruptcy and ready for action, is buying Sears in a surprising $11 billion gamble aimed at helping the two chains survive the onslaught of their giant competitors Wal-Mart and Target.