Sears Mulls Split From Lands' End, Auto Units

Law360, New York (October 29, 2013, 12:54 PM EDT) -- Sears Holdings Corp. said Tuesday that it is considering splitting off its Lands' End and Sears Auto Center businesses to bear down on its core operations, signaling the latest stab at reshuffling under the ownership of hedge fund manager Edward Lampert.

The Illinois company said that a prospective separation from Lands' End would not be structured as a sale, but instead as a transaction that would allow existing shareholders to cash in on long-term value creation. Sears was less specific about its auto-center business, saying it...
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