William Ackman’s Pershing Square Capital Management will sell its stake in Sears Canada Inc. to Sears Holdings Corp. for almost $560 million.
The companies said Friday that Pershing Square had agreed to off-load all its roughly 18.7 million shares of Sears Canada common stock, representing about 17.3 percent of shares outstanding, for 30 Canadian dollars a share. The purchase price totals about $556.6 million at current exchange.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)