Sears, Kmart Boosted by Merger News
Sears, Roebuck (S ) and Kmart (KMRT ) shares traded solidly higher Wednesday after the two retailing giants agreed to merge in a deal valued at $11 billion. Kmart holders will get one share of new Sears Holdings stock for each Kmart share. Sears holders will have the right to elect $50 in cash or 0.5 Sears Holdings share for each Sears share. S&P upgraded Sears stock to hold from strong sell.
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