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USA Today reports that Sears is looking to reacquire the 41 percent of the Sears Hometown and Outlet Stores that it doesn’t own, having spun them off in 2012.

The story says that the company “received a proposal Friday from its largest shareholder and Sears Holdings chairman Eddie Lampert's hedge fund ESL Investments to purchase the remaining shares of the company for $2.25 per share,” which works out to about $21 million.

The story notes that the offer is made as Sears announced the opening of three small format stores, apparently trying to move away from its image as a company that only closes stores and lays off employees.

Sears “was on the brink of liquidation” earlier this year, the story notes, “but Lampert’s hedge fund made a $5.2 billion offer for the company that was approved by a federal bankruptcy judge in February. About 425 stores and 45,000 employees were transferred to ESL.”
KC's View:
Sounds like a rigged game to me, since Sears and Lampert already own 59 percent of this company. I have to be honest, though … it is hard for me to think that any of these moves will be good for anyone other than Lampert. Lots of history here.