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Sears Takes Restoration Hardware Stake

Sears Holdings Corp., parent of retailers Sears and Kmart, has bought a 13.9 percent stake in Restoration Hardware Inc. and is considering a possible takeover of the home furnishings provider, according to a Securities and Exchange Commission filing Monday.

Restoration shares rallied shortly after Sears' intentions became public late Monday, gaining nearly 18 percent in after-hours trading.

According to the filing, Sears acquired 5.3 million Restoration shares for $30.2 million, including broker fees.

More here.

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