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Sears Holdings Files Proxy Circular and Extends Offer

    HOFFMAN ESTATES, Ill., Oct. 31 /PRNewswire-FirstCall/ -- Sears Holdings
Corporation (Nasdaq: SHLD) announced today that its wholly-owned
subsidiary, SHLD Acquisition Corp., has filed a proxy circular to permit it
to solicit proxies in connection with the November 14, 2006 meeting of the
shareholders of Sears Canada Inc. At the meeting shareholders will be asked
to consider a proposed consolidation of the shares of Sears Canada, which
if approved in accordance with all legal requirements, would result in
Sears Canada becoming a wholly-owned subsidiary of Sears Holdings. On
October 23, 2006 the Ontario Securities Commission issued a stay of its
August 8, 2006 cease trade order to permit Sears Canada to hold the
meeting. The holding of the meeting complies with all requirements of the
Canada Business Corporations Act and has been authorized by the Ontario
Securities Commission.
    A copy of the SHLD Acquisition Corp. proxy circular may be found at
http://www.sedar.com at the profile of Sears Canada. Sears Holdings
encourages Sears Canada shareholders to review this proxy circular in its
entirety.
    Sears Holdings also announced that SHLD Acquisition Corp. has extended
its take-over bid for all the shares not already owned by Sears Holdings
and its affiliates to 5:00 p.m. (Toronto time) on November 20, 2006. As a
result of the cease trade order issued on August 8, 2006 by the Ontario
Securities Commission, no Sears Canada shares may be accepted or taken up
under such offer.
    About Sears Holdings Corporation
    Sears Holdings Corporation is the nation's third largest broadline
retailer, with approximately $55 billion in annual revenues, and with
approximately 3,900 full-line and specialty retail stores in the United
States and Canada. Sears Holdings is the leading home appliance retailer as
well as a leader in tools, lawn and garden, home electronics and automotive
repair and maintenance. Key proprietary brands include Kenmore, Craftsman
and DieHard, and a broad apparel offering, including such well-known labels
as Lands' End, Jaclyn Smith and Joe Boxer, as well as the Apostrophe and
Covington brands. It also has Martha Stewart Everyday products, which are
offered exclusively in the U.S. by Kmart and in Canada by Sears Canada. The
company is the nation's largest provider of home services, with more than
13 million service calls made annually. For more information, visit Sears
Holdings' website at http://www.searsholdings.com .

SOURCE Sears Holdings Corporation





 

 
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