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News Breaks | | | | November 14, 2012 | | 06:04 EDT |  | SHLD | Sears Holdings completes partial spin-off of its interest in Sears Canada Inc.
Sears Holdings Corp. announced that it completed its previously announced spin-off of a portion of its interest in Sears Canada Inc. Sears Holdings distributed approximately 44.5% of the total issued and outstanding common shares of Sears Canada on a pro rata basis to holders of Sears Holdings common stock. Following the partial spin-off, Sears Holdings has an approximately 51% ownership interest in Sears Canada. The partial spin-off was effective at 11:59 p.m. EST on Nov. 13. At that time Sears Holdings' stockholders received 0.4283 Sears Canada common shares for every share of Sears Holdings common stock held as of the close of business on Nov. 1, the record date for the spin-off. The distribution is taxable to Sears Holdings' stockholders for Canadian and U.S. federal income tax purposes. Sears Holdings will continue to be listed on the NASDAQ Global Select Market under the symbol "SHLD," and Sears Canada will continue to be listed on the Toronto Stock Exchange under the symbol "SCC". | |
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News For SHLD From The Last 14 Days Check below for free stories on SHLD the last two weeks. |
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| June 18, 2013 | | 07:19 EDT |  | SHLD | Eyefortransport to hold a summit
 Subscribe for More Information | | | June 14, 2013 | | 07:35 EDT |  | SHLD | Sears cuts two Canadian stores near Toronto, Globe and Mail reports
Sears Canada (SHLD) is selling leases of two of its high-profile stores back to their landlords for $191M plus options on a third store for $1M that could raise another $53M within five years, reports the Globe and Mail. The moves come as Sears races to revive its struggling business amid intensifying competition in Canada and the arrival of Target (TGT), which started to open its first stores here in March, and Nordstrom (JWN), which launches in Canada next year.Reference Link | |
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