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Sears Takes Restoration Hardware Stake

Sears Holdings Corp., parent of retailers Sears and Kmart, has bought a 13.9 percent stake in Restoration Hardware Inc. and is considering a possible takeover of the home furnishings provider, according to a Securities and Exchange Commission filing Monday.

Restoration shares rallied shortly after Sears' intentions became public late Monday, gaining nearly 18 percent in after-hours trading.

According to the filing, Sears acquired 5.3 million Restoration shares for $30.2 million, including broker fees.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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