TITLE

Kmart/Sears Merger Filing Delayed

PUB. DATE
January 2005
SOURCE
Home Textiles Today;1/3/2005, Vol. 26 Issue 17, p15
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the delay in merger plans of Kmart Corp. and Sears, two retail firms. Slowed down by speed bump on the road toward their $10.5 billion merger, the companies said they are temporarily withdrawing a regulatory filing tied to a proposed combination that would create the nation's third largest retailer. The move is designed to give the U.S. Federal Trade Commission (FFC) more time to study the proposed acquisition of Sears by Kmart. In a joint press release, the two retailers said, "The FTC staff recently requested certain information, which the parties provided, and the staff has requested more time to review it in light of the holiday season." The two retailers said they remain confident the FTC review will be completed without delaying the merger.
ACCESSION #
15598654

 

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