Sears, Roebuck and Co.’s purchase of Lands’ End Inc. for $1.9 billion has been approved by federal regulators.
Also, the German Federal Cartel Office has signed off on the deal. Lands’ End runs a call center in Germany.
Hoffman Estates, IL-based Sears said its $62-a-share proposal for the catalog and online merchant remains subject to other conditions, including at least two-thirds of the shares being tendered.
Sears said on May 13 that it wished to acquire the Dodgeville, WI, direct merchant in a cash tender offer for $62 per Lands’ End share–approximately $1.9 billion. Upon completion of the deal, expected in June, Lands’ End will become a wholly owned subsidiary of Sears.
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