Sears’ biggest holder offers $4.6B for chain
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.