Women’s Wear Daily
04.17.2014
financial
financial

Breaking Up the Party: Vornado Said Eyeing Possible Bid for Sears

Vornado Realty Trust could be close to upping the stakes in the bidding for Sears, sources in the retail real estate and finance community said Friday

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The question now is whether there are any other bidders for Sears out there other than Vornado. Lampert’s bid for the retailer revealed its true value and, given the whirlwind of speculation in financial and retail circles recently and the $120 billion in hedge fund money out there, some institutions might believe Sears is an opportunity too good to pass up.

Still, the real estate source who specializes in the department store channel said, “All the real estate guys look at these types of deals. I can’t think of, nor have I heard of, anybody else who would want to play in this arena, not even Sun Capital or Cerberus at this point.”

 — With contributions from Arthur Zaczkiewicz and Sharon Edelson
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