Sears Holdings Corp. has bid $834.5-million to take Sears Canada Inc. private, a move some analysts say positions it to eventually scoop up rival Hudson’s Bay Co. and merge the two department store companies.
Sears Holdings, controlled by U.S. hedge fund manager Edward Lampert, made the all-cash offer yesterday for the 46.2 per cent of Sears Canada it does not already own.
The offer could be the first step toward Mr. Lampert selling off Sears Canada’s real estate or, down the road, buying all or part of HBC, said retail analyst Robert Gibson of Octagon Capital. Merging the two companies would create a stronger, more focused merchant.
