Retail

ESL Plans $4.6B Bid for Sears Holdings

11 days ago   |   By WWD

Hedge fund ESL Investments plans a $4.6 billion bid for Sears that would, in addition to saving 50,000 jobs, reinstate the prepetition Sears severance program for the benefit of all eligible employees.
ESL made its intent known in a letter that was filed with the Securities and Exchange Commission. Included in the $4.6 billion bid is a credit bid valued at $1.8 billion.
The hedge fund said, “ESL Investments continues to believe in Sears Holdings' immense potential to evolve and operate profitably as a going concern with a new capitalization or organizational structure. We believe that a...
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