« Market Close - VCBI - Virginia Commerce Bancorp, Inc. Announces Stock Split »

Shareholders OK $12.3B Sears-Kmart Merger

24 March 2005
Author: site admin Posted under Investing

Today (3/24/05) shareholders signed off on Kmart Holding Corp.’s $12.3 billion acquisition of Sears, Roebuck and Co., clearing the way for the two struggling companies to combine into the nation’s third-biggest retailer. Company officials said the deal could close later today (3/24/05). The new company will be named Sears Holdings Corp. (symbol SHLD) with $55 billion in revenue and 3,800 stores. The deal will create the nation’s third-biggest retailer behind Wal-Mart Stores Inc. and Home Depot Inc. and bring together Sears’ top brands (Craftsman and Kenmore) and Kmart’s successful product lines (Martha Stewart and Joe Boxer).

S - Sears

KMRT - Kmart

Note: SHLD will replace Sears Roebuck in the S&P 500 and Comcast (CMCSA) will replace Sears in the S&P 100.


Leave a reply

You must be logged in to post a comment.