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Sears' Stock Falls To Record Low As Ceo's Hedge Fund Eyes Kenmore

by cnbc.com posted 1year ago 34 views
Shares of Sears Holdings tumbled as much as 13 percent Friday, skidding to a record low after the company disclosed earlier in the week that a hedge fund owned by CEO Eddie Lampert offered to buy the troubled retailer's Kenmore appliance division for $400 million. Lampert's hedge fund, ESL Investments, also made an offer to buy Sears' Home Improvement business for as much as $80 million in cash, both companies said in a filing with the Securities and Exchange Commission on Tuesday.

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