Eddie Lampert’s $5.2 Billion Sears Takeover Is 'Opportunity Not to Be a Cartoon Character,' Says Judge | WHAT REALLY HAPPENED


Eddie Lampert’s $5.2 Billion Sears Takeover Is 'Opportunity Not to Be a Cartoon Character,' Says Judge

A bankruptcy Judge approved Eddie Lampert’s $5.2 billion takeover bid for Sears (SHLD, +0.00%) Thursday, but not before leaving the hedge fund manager with some choice words.

Lampert’s fund, ESL Investments, intends to keep 425 Sears and Kmart stores open, saving the jobs of 45,000 employees — a move that Judge Robert Drain of the U.S. Bankruptcy Court for the Southern District of New York described as credible.

Yet the matter didn’t end there: although Lampert was not in attendance — CNBC reports that he dialed in from his office in Florida — Judge Drain addressed him directly in his closing statement, saying that the reclusive billionaire “has the opportunity not to be a cartoon character … he should do that.”

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