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Decision time near for Sears shareholders
By Times Staff Writer
Published March 21, 2005
Shareholders in Sears, Roebuck and Co. have until Thursday to decide whether to exchange their shares for cash or for stock in the new company being formed as a result of the merger with Kmart Holding Corp.
Both companies have scheduled special shareholder meetings Thursday to approve Kmart's $11-billion acquisition of Sears, a deal that will create the nation's third-largest retailer.
Kmart shareholders are to receive one share in the new company for each Kmart share.
Shareholders may not get the exact mix of cash or shares in the new Sears Holdings Corp. that they seek because of stipulations in the merger agreement.
[Last modified March 19, 2005, 01:28:02]
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