Today, Sears Holdings Corp. submitted a draft acquisition agreement to the SEC to acquire the Corte Madera-based furniture retailer (NASDAQ: RSTO) for $6.75 per share, 5 cents more than rival Catterton Partners bid.
Sears had until yesterday to submit a draft merger agreement to be able to continue its negotiations; it had made a tentative offer for the company on Nov. 23 and last week signed a confidentiality agreement with Restoration Hardware to be able to conduct due diligence on the retailer
Sears Holdings Corp., led by hedge fund manager Edward Lampert, already owns close to 14 percent of restoration Hardware.
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source: bizjournals.com
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