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Alternative Market Briefing

Lampert makes eleventh hour bid to save Sears

Monday, December 31, 2018

Bailey McCann, Opalesque New York:

Sears CEO and hedge fund manager Eddie Lampert has cobbled together a $4.6 billion hail mary bid to save the troubled retailer. The proposal would have Lampert's hedge fund ESL Investments buy the company keeping it whole. If the bid is not accepted, liquidators will begin breaking the company into pieces.

Sears is scheduled to go to auction on January 14. With his bid, Lampert is hoping to be recognized as a qualified bidder in order to be able to take part in the auction. Sears advisors have until January 4 to review the proposal and approve it.

The bid includes outside financing from thr......................

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