To merge Transform Holdco with Lands End where he's already 66.5% owner. After merger, that will be his main publicly listed investment vehicle.
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Land's End is queued to be Eddie's next retail bankruptcy after SHOS. He's buying up Autozone shares now, so he probably plans to bankrupt them next.
The SEC can’t do anything about something that happened in 2014. Securities laws have a blanket 3 year SoL barring very specific acts that weren’t engaged in by Eddie. LE is dying faster than Sears (less than 20% of their sales were from B&M last year, either at Sears or their own stores). If the merger/takeover gets rejected, watch for LE to got BK within the year and Eddie buy the assest and merge them into Transformco.
(May 15, 2019) Lampert increased his stake in Lands' End Inc. to 20.89 million shares, or 64.8% of the shares outstanding, to keep him as the apparel seller's largest shareholder.
The 2014 Lands End divestiture is under review by the SEC. The idea of merging is ludicrous and false. Dig deeper.
"Transform Holdco is a major stockholder, but Eddie doesn’t control the Board.... "
Could you then elaborate who controls the board if it's not 66.5% owner?
^You're hilarious! That must be first time, when 66.5% owner doesn't control the board.
Just like he didn't control the SHOS board? I don't like what you're doing so I'll replace you with the people who do what I say. Of course he controls the board.
Maybe Kmart will own Sports Authority and Border's again too.
Transform Holdco is a major stockholder, but Eddie doesn’t control the Board.... sounds to me like you’re just throwing c-ap against the wall hoping something will stick