Two of the nation's biggest retailers announced plans to merge Wednesday, with Sears Roebuck & Co. and Kmart Holding Corp. teaming up in a deal valued at $11 billion.
The merger will give rise to a company named Sears Holdings Corp., which the parties said will rank as the No. 3 U.S. retailer -- after Wal-Mart Stores Inc. and Target Corp. -- with approximately $55 billion in annual revenue as well as a national footprint of nearly 3,500 retail stores.
Read more at Sears, Kmart set $11 billion retailing merger.
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