Sears completes spinoff of Hometown, Outlet stores

Sears was scheduled to complete its spinoff of its 1,100 Hometown and 122 Outlet stores into a separate company Tuesday, a deal that will give shareholders the rights to buy shares in the new company for $15 per share. The sale is expected to raise about $446.50 million. Read the Chicago Tribune story here.
http://www.chicagotribune.com/business/breaking/chi-sears-to-spin-off-of-hometown-outlet-stores-tuesday-20120908,0,5313323.story

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