Reuter’s recently reported that a hedge fund owned by Sears CEO Eddie Lampert has offered to buy the Kenmore brand for $400M in cash.
The offer was made in a letter to Sears’ board last week on August 14th.
ESL Investments has also made an offer to by the appliances brand for as much as $80M, also in cash.
Lampert stated in April that Sears should sell its Kenmore brand, home improvement businesses and real estate, and that ESL Investments would bid in any sale.
Sears formed a special committee in May to explore the proposal.
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