The Wall Street Journal reported ESL Investments, the hedge fund of Sears CEO Edward Lampert, has offered to buy the company’s iconic Kenmore appliance brand for $400 million.
ESL originally proposed purchasing Kenmore and Sears’ home improvement business in April in a letter to the board. The letter did not specify a price. The board responded to the letter, stating it would set up a special committee to study the offer.
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ESL Proposes Buying Kenmore, Sears Home Improvement Biz