Hoffman Estates, IL, August 30, 2006--Sears Holdings said it extended its $775 million offer to buy the rest of Sears Canada Inc. until Sept. 29 as it appeals a regulatory decision that stalled the deal.
The Ontario Securities Commission said earlier this month that Sears Holdings' offer to take Sears Canada private had fallen short of disclosure obligations.
Sears Holdings has appealed, and said the Ontario Divisional Court will hear arguments on Sept. 18. The retailer said its offer may be further extended.
