I just do not have a problem with Lampert shrinking the share base…Look at the billion spent by other retailers in the current environment. What has it got them? Nothing..
Sears Holdings Corporation
(Nasdaq: SHLD) announced today that its wholly-owned subsidiary SHLD
Acquisition Corp. acquired on November 11, 2008, 326,700 common shares of
Sears Canada Inc. on the Toronto Stock Exchange (“TSX”) at an average price of
C$16.37 per share. This acquisition represents 0.3% of the outstanding shares
of Sears Canada. Taking into account this acquisition, other purchases made
on the TSX and other published markets and the prior holdings of Sears
Holdings and its affiliates, Sears Holdings now beneficially owns and controls
77,683,290 common shares, representing approximately 72.2% of the outstanding
shares of Sears Canada.
The purchases were made to increase Sears Holdings’ interest in Sears
Canada. Sears Holdings may in the future acquire additional common shares of
Sears Canada depending upon a number of factors including, among others,
general market and economic conditions and prices and volumes of shares
available for sale. In addition, purchases of Sears Canada common shares may
be made pursuant to an automatic share purchase plan that is currently in
effect.
Disclosure (“none” means no position):Long SHLD, none
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