Sears Holdings is attempting to take Sears Canada private at $18/share but some minority shareholders (Hawkeye Capital Management LLC, Knott Partners Management LLC and Pershing Square Capital Management LP, among others) are dissenting. (Pershing thinks it's worth $41.21- $46.67.) But most vocal is the company's ex-chairman and CEO, Richard Sharpe, who takes particular aim at Sears Holdings' chairman, who happens to be...
"None of them really know anything about retailing ... Eddie Lampert of ESL (Investments) doesn't know anything about retailing and couldn't care less about it."**
Apparently, Eddie Lampert-bashing has become a cultural export. Next thing you know, the French will be doing it. (And in the interim, the French-Canadians.)
** Lest this be mistakenly perceived as an endorsement of Sharpe's views: we're fairly certain Lampert knows "a thing or two" about retailing.
Sears Canada Set to Go Private, ex-CEO Calls Deal "Corporate Cannibalism" [CBC News]