Report: Sears May Have Other Suitors

Share this content:
Citigroup Smith Barney called the Sears-Kmart deal into question yesterday with a research report that suggests the possibility of Vornado Realty Trust and a partner countering Kmart's $10.85 billion bid for the multichannel marketer.


"We do not believe the Sears/Kmart merger is a done deal just yet," the report said.


Smith Barney valued Sears overall at between $15 billion and $17 billion, or $70 to $80 per share. The company's real estate alone is worth between $8 billion and $10 billion. Earlier estimates by Smith Barney put the value of its real estate in the $4 billion to $6 billion range. Also, with broader distribution, Sears' Craftsman and Kenmore brands could be worth substantially more than currently thought, according to the report.


Given the value of Sears stock, Vornado, which already owns 4.3 percent of Sears, might team up with a private-equity partner or a retailer to bid on Sears. There's also the possibility that a dark horse bidder could emerge, according to the report.


close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

We recently were named B2B Magazine's Direct Marketing Agency of the Year, and with good reason: We make real, measureable, positive change happen for our clients. A full-service agency founded in 1974, Bader Rutter expertly helps you get the right message to the right audience at the right time through the right channels. As we engage our clients' audiences along their journey, direct marketing (email, direct mail, phone, SMS) and behavioral marketing (SEM, retargeting, contextual) channels deliver information relevant to the needs of each stage. We are experts at implementing and leveraging marketing technologies such as CRM and marketing automation in order to synchronize sales and marketing communications. Our team of architects and activators plan, execute, measure and adjust in real time to ensure the strategy is working as needed and change things if it's not.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above