The discount retailer Kmart Holding Corp. is combining with one of the most venerable names in U.S. retailing, Sears, Roebuck & Co., in an $11 billion deal that will create the nation’s third largest retailer.
The company will continue to operate the Kmart and Sears stores under their current brand names.
The combined company is expected to have $55 billion in annual revenues, and trail only Wal-Mart Stores Inc. and Target Corp. as the biggest U.S. retailers.
The newly merged firm will be headquartered at Sears in Hoffman Estates, outside of Chicago.
