It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
DETROIT - As Kmart Holding Corp. announced the second deal in less than a month to sell off dozens of stores, observers wondered whether chairman and majority owner Edward Lampert intends to revive the company's ailing retail business, or gradually sell it off, capitalizing on its vast real estate holdings.
From: CNN: Kmart, Sears to merge in $11B deal - Nov. 17, 2004
Kmart is buying Sears, Roebuck & Co. for $11 billion in a deal that will marry two of the nation's oldest retailers that had trouble keeping up with the changes in American culture around them.
The deal, announced Wednesday morning, will create the third-largest retailer in the country. The new company, known as Sears Holdings, will be based at Sears headquarters outside Chicago.