Sears Will Move to Nasdaq After MergerSears, Roebuck & Co. will switch its listing from the New York Stock Exchange to the Nasdaq Stock Market after its purchase by Kmart Holding Corp., according to reports yesterday.
Hoffman Estates, IL-based Sears has been listed on the NYSE since 1910. The company said in a filing this week with the Securities and Exchange Commission that the move will occur once its merger with Troy, MI-based Kmart is complete.
A source familiar with the discussions said the NYSE and Nasdaq competed fiercely for the listing, according to the reports.
Chantal Todé covers catalog and retail news and BTB marketing for DM News and DM News.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters