UPDATE 2-Kmart buying Sears in surprise $11 billion deal
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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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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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U.S. stocks advanced on Wednesday  after Kmart's plan to buy Sears in an $11.5 billion  deal was  announced and computer maker Hewlett-Packard Co. HPQ.N posted  solid earnings, but higher oil prices prompted some investors  to sell equities.
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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. posted its fourth straight quarterly profit on Wednesday as the discount retailer and Sears, Roebuck and Co. announced an &#36;11 billion merger.
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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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Sears, Roebuck and Co. and Kmart Holding Corp. have agreed to merge to create what would be the third-largest US retailer, with $55 billion in annual revenue.
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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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Shares of Kmart Holding Corp. surged 17 percent Monday after the discount retailer reported a profit for the second quarter and said chairman and majority owner Edward Lampert is now free to invest the company's &#36;2.6 billion in surplus cash.
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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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Retailer Kmart Holdings Corp. (KMRT.O: Quote, Profile, Research) on Monday finalized a deal to sell 18 of its stores to Home Depot Inc.
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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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TROY, MI-Kmart and Sears have closed a deal in which Kmart will sell 50 stores to Sears for $575.9 million. Troy-based Kmart Holding Corp.
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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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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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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 - Retailer Kmart Holdings Corp. on Monday said it finalized a deal to sell 18 of its stores to Home Depot Inc. for $271 million.