Sears chairman makes bid to buy bankrupt retailer

ESL states that it believes in the company’s potential and intends to save retailers Sears and Kmart

Hedge fund ESL Investments, run by Sears Holdings chairman Eddie Lampert, has made a bid to acquire the bankrupt department-store operator. The acquisition, worth $4.6bn, would be made via newly-formed company Newco.

In a letter dated December 5 to Lazard...

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