By and  on February 16, 2011

Enigmatic financier Edward S. Lampert has moved in on Gap Inc., taking a 5.8 percent stake that he could ultimately use to agitate for changes at the specialty retailer.

As of Feb. 3, Lampert, who orchestrated the combination of Sears and Kmart and serves as chairman of Sears Holdings Corp., had scooped up 35 million shares of Gap Inc. through various investment vehicles, including his ESL Investors hedge fund.

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