Deals
Lampert to Present New Sears Offer as Talks Continue
- New bid worth over $5 billion includes more cash, better terms
- Alternative liquidation plans on hold at second day of auction
This article is for subscribers only.
Eddie Lampert presented a new bid for Sears on Tuesday that included some concessions as talks to save the bankrupt retailer from liquidation continue, according to people with knowledge of the discussions.
The new offer includes terms that are more favorable to the department store chain and its creditors, including more cash, said the people, who asked not to be named as the negotiations are confidential. The overall value of Lampert’s offer is still pegged at over $5 billion, one of the people said.