Shareholders Approve Kmart-Sears

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HOFFMAN ESTATES, IL-Shareholders of both Kmart Holding Corp. and Sears, Roebuck & Co. both approved the $13-billion merger between the two companies that will create Sears Holding Corp. The new entity, which will operate about 3,500 stores, will start trading on the Nasdaq under the symbol “SHLD” on March 28.

About 88% of the votes cast by Sears shareholders, or 69% of the company’s total outstanding shares, voted in favor of the merger. At Kmart, 99.9% of those who voted were in favor, representing 69% of shares outstanding. Company officials first announced the transaction in November.