Lampert and Ackman Part Ways in Cheap Department Store


Bill Ackman has finally persuaded his fellow hedgie Eddie Lampert to buy him out of Sears Canada for nearly double what he last offered. Bill has been calling Eddie a cheap SOB for over four years.

In 2006, Ackman successfully blocked Lampert’s attempt to buy his stake in Sears Canada on the cheap. At the time, Lampert, who controls the larger Sears Holdings, offered the measly sum of $18 a share (Canadian Dollars.)

Now, Lampert's shelling out $30 a share (still in loonies,) or $560 million, for Ackman’s 17.3 percent stake.


Eddie Lampert Takes 15 Percent Beating This Month

Last week, we told you about certain Tiger Cubs that were having a rough go of it this month. Today, we get some updated numbers thanks to Hedge Fund Alert. Eddie Lampert is taking a beating, off 15 percent this month.