Shares of Sears Holdings Corp. (NASDAQ: SHLD) are jumping this morning on increased speculation that majority shareholder Eddie Lampert will take the company private. The speculation first surfaced earlier this week when Lampert bought 4.46 million shares of the company’s stock from his hedge fund, ESL Investments.
Sears’ suppliers had been unable to get short-term financing from CIT Group Inc. (NYSE: CIT) for sales they made to the retailer after January 11th. A report from AP yesterday claimed that CIT had once again begun financing Sears suppliers.
The combined reports/rumors have sent Sears shares up more than 13% this morning, to $49.11 in a 52-week range of $28.89-$94.79.
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