Sears Holdings Corporation (NASDAQ: SHLD) announced on Friday that its board of directors approved the separation of its Lands’ End business via a spinoff. The spinoff distribution is expected to occur on April 4, 2014. In the distribution, Sears Holdings stockholders will receive 0.300795 shares of Lands’ End common stock for each share of Sears Holdings common stock held as of 5:30 p.m. Eastern time on the record date. Lands’ End expects to list its common stock on the NASDAQ Capital Market under the symbol “LE.”
Spin-Off
