Sears to Buy Canadian Unit
Hoffman Estates, Ill.–based retailer Sears Holding Corp. announced it is proposing to buy the outstanding shares of Sears Canada Inc. for $14.54 per share following an initial $16.06-per-share distribution to shareholders. Sears Holdings already owns about 54 percent of the outstanding shares of its Canadian counterpart, which Sears Holdings plans to operate as a wholly owned subsidiary.
