GDA Staff -- Gifts & Dec, December 12, 2005
Sears Execs Look To Acquire Sears Canada
Sears Holdings Corporation is proposing to acquire the outstanding common shares of Sears Canada Inc. in a transaction that would total approximately $718.5 million.
The offer of $16.86 (Canadian) per share represents an 8.7 percent premium over the Dec. 2 closing price and a 22.2 percent premium over the average closing price since Aug. 31, the date that Sears Canada announced it had entered into an agreement to sell its Credit and Financial Services business. Sears already owns 53.8 percent of Sears Canada.
Following the transaction, Sears Canada would become a wholly owned subsidiary of Sears Holdings.
Field's Launches Holiday Campaign
Marshall Field's recently launched a series of nine 30-second advertising spots featuring the retailer's holiday theme, “There's no place like Field's.”
“The concept of this campaign is natural and unscripted to embody the holidays and the sentiment of the season as seen through the eyes of children,” said Paul Cavalli, senior vice president of marketing and visual merchandising. “We believe each spot will strike a cord with our guests.”
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