Toronto, Ontario, September 27, 2006--Sears Holdings hopes to appeal a Canadian court's dismissal of its effort to overturn the Ontario Securities Commission's cease-trade ruling on its bid to buy the 46% of Sears Canada Inc. it doesn't already own.
The company also extended its offer for Sears Canada shares until 5 p.m. EST on October 31.
Sears said it will seek leave to appeal the Ontario Divisional Court's Sept. 19 dismissal to the Court of Appeal.
The Ontario Securities Commission in August said Sears Holdings failed to adequately disclose agreements it had secured with banks and an investment fund.
