Lampert wins Sears bankruptcy auction with $5.2 bln bid
Share:
(Reuters) - Sears Holdings Corp Chairman Eddie Lampert won a bankruptcy auction to buy the once iconic U.S. retailer after presenting an improved offer of $5.2 billion (£4 billion), Sears said on Thursday, but creditors quickly moved to oppose the deal.Sears picked Lampert's hedge fund ESL Investments Inc as the winner at a bankruptcy court-supervised auction after his latest bid topped an earlier $5 billion proposal following weeks of talks.The deal would keep open more than 400 stores,..