Now that shareholders have approved the Sears-Kmart merger, the chairman of the merged company, Edward Lampert, put another piece of business to rest.
“Lands’ End is not for sale,” Lampert said at a news conference announcing the merger clearance.
Earlier this month rumors circulated that Sears had put a price of $1.2 billion on Lands’ End because sales of the cataloger’s apparel in Sears’s stores had fallen short of expectations.
The name of the combined Sears and Kmart company will be Sears Holdings Corp. Its stock is expected to start trading on the Nasdaq National Market on March 28 under the stock symbol “SHLD.”