“We believe our proposal, which will provide certain value and liquidity at a considerable premium to the market price, presents a superior outcome for the Company’s stockholders as compared to the uncertain outcomes facing the Company if it continues on its current path as a stand-alone company,” Lampert said.
»BIZ BEAT: Owner of Kay Jewelers, Jared plans more than 150 closures
ESL’s bid could only proceed if the full board of directors and the company approves it.
A committee for Sears Hometown and Outlet Stores “concluded that a transaction on the terms contemplated by the Proposal would not be in the best interests of the Company’s unaffiliated stockholders,” said an announcement Monday from Sears Hometown and Outlet Stores, Inc.
But the groups involved are continuing discussions, the statement said.
There are Sears Outlet stores at the Kettering Towne Center and North Heights Plaza in Huber Heights.
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