Sears Holdings Corporation (NASDAQ: SHLD) announced today, in response to news reports and market speculation about a possible further increase in price by Sears Holdings, that the C$18.00 offer by its wholly-owned subsidiary SHLD Acquisition Corp. for any and all common shares of Sears Canada is its best and final offer.
Alan Lacy, vice chairman of Sears Holdings said, "We are concerned that speculation reported in the press may be misleading the market regarding our intentions. As a result, we are stating clearly and categorically that we will not increase our price further."
The SHLD Acquisition Corp. offer was previously extended until 11:59 p.m. (Eastern Daylight Time) on April 18, 2006.
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/ .
SOURCE: Sears Holdings Corporation
CONTACT: Sears Holdings Public Relations, +1-847-286-8371
Web site: http://www.searsholdings.com/