Sears shares surge as bankruptcy judge OKs Lampert bid
Sears Holdings Corp. shares rallied Thursday as a bankruptcy judge approved Edward Lampert's bid to purchase the ailing retailer for $5.2 billion. Sears shares surged 32% to close at 76 cents. Judge Robert Drain said he would approve Lampert's purchase, allowing Sears to keep 425 stores open, preserving about 45,000 jobs, according to a Dow Jones report. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.