Sears’ big­gest holder of­fers $4.6B for chain

The Telegraph (Macon) - - Obituaries -

May 20, 1922 - Novem­ber 30,

2018 MACON, GA- It is with deep sad­ness that we an­nounce the pass­ing ofMrs. Sarah Jane Hol­loway Co­ley. Fu­neral ser­vices will be Satur­day, De­cem­ber 8, 2018 at 1:00 PM at Glo­ri­ous HopeMis­sion­ary Bap­tist Church lo­cated at 3805 Napier Ave., Macon, GA. 31204. Rev. JohnHer­ring­will of­fi­ci­ate. In­ter­ment ser­vices will fol­lowatWood­lawn Memo­rial Park. Mrs. Co­ley leaves to cher­ish her mem­o­ries 7 chil­dren: Mary Strick­land, Wil­lie Jones, Josephine Stephens, Thomas Co­ley, JCCo­ley Jr., Emma Wat­son andRuthie Co­ley; 27 grand­chil­dren in­clud­ing a de­voted grand­daugh­ter, ElaineWatts and sev­eral great-grand­chil­dren, great­great-grand­chil­dren, nieces, neph­ews and cousins. Fam­ily may be con­tacted at 1956 NevilleWay, Macon, GA. 31204. Richard R. Robin­son & Cre­ma­tion Ser­vices has charge of ar­range­ments.

Ed­die Lam­pert and his ESL Hold­ings hedge fund are of­fer­ing to buy the rest of Sears for up to $4.6 bil­lion in cash and stock.

The Sears chair­man and ESL own just un­der half of the com­pany, ac­cord­ing to Fac­tSet. Sears filed for Chap­ter 11 bank­ruptcy pro­tec­tion in Oc­to­ber, weighed down by years of de­clin­ing sales and mas­sive debt.

ESL Hold­ings said in a reg­u­la­tory fil­ing Thurs­day that its non­bind­ing of­fer for roughly 500 re­main­ing Sears stores will keep about 50,000 em­ploy­ees work­ing.

The of­fer is sub­ject to due dili­gence and ESL’s abil­ity to get fi­nanc­ing, among other things.

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