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Sears chairman makes $4.6B bid for company

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The chairman of Sears Holdings Corp. and his hedge fund made a $4.6 billion bid for the company.

Eddie Lampert and ESL Investment submitted the bid to New York-based Lazard Freres & Co., the investment banker for Sears debtors.

"Sears is an iconic fixture in American retail, and we continue to believe in the company’s immense potential to evolve and operate profitably as a going concern with a new capitalization and organizational structure," ESL wrote in a letter to Lazard Freres.

Read more from the Chicago Business Journal.

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