December 28, 2018 / 10:51 PM / 6 months ago

Sears Chair Lampert makes $4.6 bln bid to keep retailer alive -sources

Dec 28 (Reuters) - Sears Holdings Corp Chairman Eddie Lampert has submitted a roughly $4.6 billion takeover bid for the bankrupt retailer, representing its only chance of escaping liquidation and laying off tens of thousands of workers, people familiar with the matter said on Friday.

The offer came after Sears’ existing lenders Bank of America Corp and Citigroup Inc, as well Royal Bank of Canada, which was not previously a lender, agreed to provide a $950 million asset-based loan and a $350 million revolving credit line to back Lampert’s bid, the sources said. (Reporting by Mike Spector, Jessica DiNapoli and Harry Brumpton in New York)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below