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To: Lost1 who started this subject	5/13/2002 8:25:12 AM
From: Lost1	Read Replies (1) of 3287

Sears to Buy Lands' End for $1.9 Billion Mon May 13, 7:45 AM ET HOFFMAN ESTATES (Reuters) - Sears, Roebuck and Co. , the No. 4 U.S. retailer, on Monday said it agreed to buy catalog and Internet retailer Lands' End Inc. for about $1.9 billion in a bid to revive its apparel business. Under terms of the deal, which has received approval from both retailers' boards, Sears will pay $62 a share for Lands' End. Lands' End founder and Chairman Gary Comer and certain other Lands' End shareholders have agreed to tender their shares, representing about 55 percent of the outstanding common stock. The tender offer requires that at least two-thirds of the fully diluted shares be tendered.

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