Sears Chairman Eddie Lampert prevails with strengthened bid in bankruptcy auction: Reuters

Sears Holdings Corp. Chairman Eddie Lampert prevailed in a bankruptcy auction for the struggling department store chain with an improved takeover bid of roughly $5.2 billion, Reuters reported early Wednesday, citing people familiar with the dealings. The move, if confirmed, would allow the 126-year-old retailer to keep its roughly 425 stores across the U.S. open. Lampert's bid, boosted from an earlier $5 billion, won out after a weeks-long process and a days-long auction held behind closed doors. The billionaire's latest proposal, made through his hedge fund ESL Investments, includes more cash and assumes more liabilities, the sources said, according to Reuters.

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