Sears acquires Orchard Supply Hardware Stores

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Sears, Roebuck, and Co., Hoffman Estates, Ill., will acquire Orchard Supply Hardware Stores Corp. in an aggreement announced Aug. 15. Sears will obtain Orchard for $35 per share, or a transaction value of $415 million. Orchard runs 61 stores in California and markets itself to do-it-yourself homeowners. Merill Lynch & Co. will handle the tender offer.

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