Sears Holdings Corporation (NASDAQ: SHLD) announced today that its wholly owned subsidiary, SHLD Acquisition Corp., has filed a revised version of the proxy circular it previously filed to permit it to solicit proxies in connection with the November 14, 2006 meeting of the shareholders of Sears Canada Inc.
The purpose of the revised circular is to add a cross reference to the fact that the deposit agreement in which Vornado Realty L.P. agreed to tender its 7.5 million Common Shares to the Offer of SHLD Acquisition Corp., also contained a release of Vornado Realty L.P., which the Ontario Securities Commission has ordered to be provided to all shareholders who tender to the offer or have their Common shares of Sears Canada acquired in a subsequent acquisition transaction. Sears Holdings has agreed to provide such a release whether or not it is ultimately required to do so by any order resulting from the current appellate process relating to the order of the Ontario Securities Commission.
The revision also adds an appendix to the proxy circular setting out the closing prices and trading volumes of the common shares of Sears Canada since August 8, 2006, the date on which the Ontario Securities commission issued its order. The trading prices of the Common Shares of Sears Canada since August 8, 2006 have ranged from C$19.50 to C$22.50 during this period. SHLD Acquisition has pointed out in its proxy circular that these prices have been achieved with very small trading volumes.
For more detailed information about these matters please see the revised SHLD Acquisition Corp proxy circular which may be found at http://www.sedar.com/ at the profile of Sears Canada.
About Sears Holdings Corporation
Sears Holdings Corporation is the nation's third largest broadline retailer, with approximately $55 billion in annual revenues, and with approximately 3,900 full-line and specialty retail stores in the United States and Canada. Sears Holdings is the leading home appliance retailer as well as a leader in tools, lawn and garden, home electronics and automotive repair and maintenance. Key proprietary brands include Kenmore, Craftsman and DieHard, and a broad apparel offering, including such well-known labels as Lands' End, Jaclyn Smith and Joe Boxer, as well as the Apostrophe and Covington brands. It also has Martha Stewart Everyday products, which are offered exclusively in the U.S. by Kmart and in Canada by Sears Canada. The company is the nation's largest provider of home services, with more than 13 million service calls made annually. For more information, visit Sears Holdings' website at http://www.searsholdings.com/ .
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SOURCE: Sears Holdings Corporation
CONTACT: News Media, Sears Holdings Public Relations, +1-847-286-8371
Web site: http://www.searsholdings.com/