No objections to Sears/Kmart marriage
Brian Carroll -- Home Textiles Today, January 28, 2005
TROY, Mich., and HOFFMAN ESTATES , Ill. — The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act related to the merger of Kmart and Sears expired as of 11:59 p.m. last night.
The merger, which is expected to close in early March 2005, is subject to approval by Kmart and Sears shareholders, other regulatory approvals and the satisfaction or waiver of customary closing conditions.
Sears Holdings Corporation is expected to be the nation's third largest broadline retailer, with approximately $55 billion in annual revenues, 2,350 full-line and off-mall stores and 1,100 specialty retail stores in the United States .