SEARS APPEAL: Sears Holdings Corp. said it will appeal a regulatory ruling blocking its $891 million bid for the 46 percent of Sears Canada it doesn’t own. The company also is extending the offer’s expiration date until Oct. 31 from Sept. 29. The Ontario Securities Commission in August barred Sears Holdings from counting some shareholder votes, saying chairman Edward Lampert gave better terms to some Sears Canada shareholders and failed to promptly disclose certain details about the bid to other shareholders. An appeal by Sears Holdings was dismissed by the Ontario Divisional Court in Toronto on Sept. 19. Sears said it will appeal to the Ontario Court of Appeal.
ON THE RUN: Runners will be racing down Manhattan’s Fifth Avenue toward Bergdorf Goodman on Saturday in the Continental Airlines Fifth Avenue Mile. Eight Olympians will join about 3,000 runners from 80th Street to 60th Street, with professionals competing for a first-time $20,000 purse, provided by Reebok. Across the country, the Nike Women’s Marathon is sold out for the third straight year, with 15,000 participants — 95 percent women — registered to race in San Francisco Oct. 22. The event has raised $24 million over two years for the Leukemia & Lymphoma Society and that total is expected to reach $40 million this year.
This story first appeared in the September 29, 2006 issue of WWD. Subscribe Today.