Sears Canada Acknowledges Sears Holdings Release Announcing Possible Divestiture

 Sears Canada Acknowledges Sears Holdings Release Announcing Possible  Divestiture  TORONTO, May 14, 2014 /CNW/ - Sears Canada Inc. (TSX: SCC) acknowledges the  release today by Sears Holdings Corporation (NASDAQ: SHLD) announcing its  intention to explore strategic alternatives including the potential  divestiture of its remaining shares in Sears Canada and/or the sale of Sears  Canada as a whole.  Sears Canada's board and management intend to cooperate  fully with Sears Holdings in this process to achieve value for all  shareholders.  The text of the Sears Holdings release on this issue is set out below.  Although the Company believes that the forward-looking information presented  with respect to a possible divestiture by Sears Holdings is reasonable, such  forward-looking information involves known and unknown risks, uncertainties  and other factors which may cause actual results, performance or achievements  to be materially different from any future results, performance or  achievements expressed or implied by the forward-looking information, and  undue reliance should not be placed on such information. The forward-looking  statements in this release are made as of the date hereof. The Company does  not undertake any obligation to update publicly or to revise any  forward-looking information, whether as a result of new information, future  events or otherwise, except as required by law.  The following is the text of the Sears Holdings release:  NEWS MEDIA CONTACT: Sears Holdings Public Relations (847) 286-8371  FOR IMMEDIATE RELEASE: May 14, 2014  SEARS HOLDINGS PROVIDES UPDATE ON ITS INTEREST IN SEARS CANADA INC.  HOFFMAN ESTATES, Ill. - Sears Holdings Corporation (NASDAQ: SHLD) announced  today that it is exploring strategic alternatives for its 51% interest in  Sears Canada, including a potential sale of Sears Holdings' interest or Sears  Canada as a whole. In connection with those efforts, Sears Holdings intends to  engage an investment banking firm.  Sears Canada's board of directors has advised Sears Holdings that Sears  Canada's board and management intend to cooperate fully with Sears Holdings in  this process to achieve value for all shareholders.  Forward-Looking Statements  This press release contains forward-looking statements with respect to  possible transactions involving Sears Canada Inc.  Forward-looking statements  are subject to risks and uncertainties that may cause our actual results,  performance or achievements to be materially different from any future  results, performance or achievements expressed or implied by these  forward-looking statements.  Such statements are based upon the current  beliefs and expectations of our management and are subject to significant  risks and uncertainties.  The following factors, among others, could cause  actual results to differ from those set forth in the forward-looking  statements: our ability to enter into or complete a possible transaction with  respect to Sears Canada on acceptable terms, on intended timetables or at all;  the form or terms and conditions of any such transaction; the impact of the  evaluation and/or completion of any such transaction on our other businesses;  and the potential impact on our business from the announcement contained in  this press release.  We intend the forward-looking statements to speak only as  of the time made and do not undertake to update or revise them as more  information becomes available except as required by law.  About Sears Holdings Corporation  Sears Holdings Corporation (NASDAQ: SHLD) is a leading integrated retailer  focused on seamlessly connecting the digital and physical shopping experiences  to serve our members - wherever, whenever and however they want to shop. Sears  Holdings is home to Shop Your Way(tm), a social shopping platform offering  members rewards for shopping at Sears and Kmart as well as with other retail  partners across categories important to them. The company operates through its  subsidiaries, including Sears, Roebuck and Co. and Kmart Corporation, with  more than 2,350 full-line and specialty retail stores in the United States and  Canada. For more information, visit www.searsholdings.com.  ** * **  This is the conclusion of the text of the Sears Holdings release.  Sears Canada is a multi-channel retailer with a network that includes 176  corporate stores, 234 Hometown stores, over 1,400 catalogue and online  merchandise pick-up locations, 97 Sears Travel offices and a nationwide repair  and service network. The Company also publishes Canada's most extensive  general merchandise catalogue and offers shopping online at www.sears.ca.    SOURCE  Sears Canada Inc.  Contact for Media: Vincent Power Sears Canada Corporate Communications  vpower@sears.ca  To view this news release in HTML formatting, please use the following URL:  http://www.newswire.ca/en/releases/archive/May2014/14/c8202.html  CO: Sears Canada Inc. ST: Ontario NI: RET  
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