Friday, June 09, 2006

Sears Complains to OSC

Sears Holdings Corporation (Nasdaq:SHLD) will have its day in court on a July 4 hearing at the Ontario Securities Commission. Ed Lampert who controls SHLD is trying to take over 100% of Sears Canada. He is being twarted by other US based hedge funds/activists who naturally want a higher price. Lampert is complaining that the other funds skirted disclosure requirements. Secretly he resents having to pay more. You can understand everyones position. The buy low sell high dynamic has devolved into corporate bitch slaps. Quite frankly the regulator has better things to do then mediate disputes betwen professional sharks.