By  on December 6, 2018

Hedge fund ESL Investments plans a $4.6 billion bid for Sears that would, in addition to saving 50,000 jobs, reinstate the prepetition Sears severance program for the benefit of all eligible employees.

ESL made its intent known in a regulatory filing with the Securities and Exchange Commission. Included in the $4.6 billion bid is a credit bid valued at $1.8 billion.

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