Comments on: Sears Holdings Buys More Sears Canada Shares

By: Anonymous

Anonymous — Wed, 08 Apr 2009 02:29:00 +0000

Cash = $833; total assets = 2271. Liabilities = 1756. 107 diluted shares outstanding.

When he paid $17 per share, he got: $7.78 per share in cash; $21 in total assets (including the cash); and also he got $16 of liabilities. Cash net of liabilities received in the deal was -$9 ($7.8-$16).

The 52% or whatever return number is wrong-or if not wrong, "optimistic".

By: Todd Sullivan

Todd Sullivan — Sat, 04 Apr 2009 23:44:00 +0000

anon

assets > liabilities = net gain..

By: Anonymous

Anonymous — Sat, 04 Apr 2009 22:23:00 +0000

Todd – my gosh, don’t you know that by buying those shares he also acquired LIABILITIES?

It’s not like he just got cash in the deal…holy cow, you are misleading people.

By: Charlie

Charlie — Thu, 19 Mar 2009 23:57:00 +0000

got it. thought it might be exchange rates but it looked like you were denoting in USD. thanks.

By: Todd Sullivan

Todd Sullivan — Thu, 19 Mar 2009 23:45:00 +0000

currency valuation differences..the $891 million C is actually more than that in $$

By: Charlie

Charlie — Thu, 19 Mar 2009 21:34:00 +0000

Does that mean that SHLD reports more than their 73% share of the Sears Canada cash balance?

If Sears Canada had $891 million in cash as of 1/31, that means that SHLD reported 88% of Sears Canada's cash on their consolidated balance sheet ($787 million/$891 million).

What am I missing here?

By: Todd Sullivan

Todd Sullivan — Thu, 19 Mar 2009 16:55:00 +0000

no, they only reported $700million + on the last 8-k as cash “held at sears canada”

http://idea.sec.gov/Archives/edgar/data/1310067/000119312509038135/dex991.htm