Sears Holdings completes spinoff
HOFFMAN ESTATES – Sears Holdings has completed the spinoff of its Hometown and Outlet stores.
The Hoffman Estates company had signaled in February that it would split off the companies as a separate publicly traded entity.
Sears Holdings Corp. received $446.5 million in gross proceeds. This included a cash dividend of $100 million paid by Sears Hometown before the spinoff and $346.5 million in proceeds from the rights offering.
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