Cleary To Guide Lampert's Purchase of Sears Hometown

Law360 (June 3, 2019, 9:20 PM EDT) -- Sears spinoff Sears Hometown & Outlet Stores Inc. announced Monday that it had reached an agreement to be acquired by a company controlled by former Sears CEO Edward Lampert, which is represented in the transaction by Cleary Gottlieb Steen & Hamilton LLP.

Transform Holdco, the company formed by Lampert-owned ESL Investments to run Sears after it purchased the chain in bankruptcy in February, will buy the Sears Hometown shares not already owned by ESL, the company and the law firm said Monday in separate news releases. The deal is expected to be completed later this year.

Transform will pay $2.25 per...

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