Kmart, Sears to Join Forces in $11 Bil. Deal

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CHICAGO Kmart today said it would merge with Sears, Roebuck & Co. in an $11 billion deal that will create the nation’s third-largest retailer behind Wal-Mart and Target.

The joint company will be known as Sears Holdings Corp. but continue to operate Kmart and Sears stores under their current brand names. The new company will be headquartered in Hoffman Estates, Ill., where Sears has its headquarters, but will maintain a “significant presence” in Troy, Mich., where Kmart is based, per the companies.

The



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