Daily News: October 26, 2018

Sears Directors Hire Evercore to Examine Lampert’s Deals


Reuters reported two Sears Holdings’ board directors have hired investment bank Evercore to examine deals led by the company’s former CEO Eddie Lampert.

According to Reuters, the deals to be reviewed include separations of Sears’ businesses and real estate, which may come under examination in bankruptcy proceedings, with creditors claiming the transactions stripped the retailer of valuable assets. Billionaire Lampert is the largest shareholder and creditor of Sears through his hedge fund, ESL Investments.