Sears Canada deal under scrutiny
May 19, 2006,
Hoffman Estates, Ill. – The Ontario Securities Commission will hold a hearing July 5 related to Sears Holdings’ offer for the shares of Sears Canada Inc.
The petitioners have also rejected Sears’ final $18 per share purchase price offer. The firms bought their shares at prices close to $18 and have been attempting to force Sears to up its offer.
In a statement today, Sears Holding said it welcomes the inquiry and said it expects a prompt resolution of the matter.
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