Sears and Kmart in $11bn merger
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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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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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NEW YORK : US stocks surged higher as Wall Street cheered Kmart&#39;s 11 billion dollar merger with Sears, although a spike in oil prices capped the gains.
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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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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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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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NEW YORK -- Sears and K-mart say they will save $500 million a year if their merger goes through. Some of that will be in job cuts, though the companies aren&#39;t saying how many.
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On the cross rates it was at 60.1 euro cents, 81.29 Japanese yen, 42.17 pence sterling, and 1.105 New Zealand dollars. On Wall Street stocks have jumped on news of a merger between retailers Kmart and Sears
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UNTIL yesterday Wal-Mart virtually owned copyright on the term âbiggest in the worldâ, when applied to retailers. But retailers Sears and Kmart have formed a shopping behemoth worth $11 billion (Â£5.9
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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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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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Discount retailer Kmart Holding Corp. (KMRT.O: Quote, Profile, Research) will buy department store operator Sears, Roebuck &amp; Co.
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Kmart Holding Corp. has finalized the sale of 50 of its stores to Sears, Roebuck and Co. for $575 million, the retailer said Wednesday.
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Kmart Holding Corp. (KMRT.O: Quote, Profile, Research) said on Thursday it would sell 45 stores for $524 million to Sears, Roebuck and Co.
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The Nov. 17 announcement that Kmart would be attempting to acquire Sears stores in a $11 billion deal sent shockwaves throughout the financial world.
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When resurgent discount retailer Kmart (Nasdaq: KMRT) branded a new CEO, it was rumored that chairman Edward Lampert might have designs on merging the company with Sears (NYSE
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NEW YORK (CBS.MW) -- Shares of rival retailers fell in Wednesday trading following the news of Kmart buying Sears for $11 billion.