Kmart Holding Corp. shareholders approved the acquisition of Sears, Roebuck and Co. on Thursday in an $11 billion deal many hope will create a retail powerhouse while helping to reverse years of lukewarm sales.
Sears shareholders were scheduled to vote on the deal later Thursday.
Kmart Chairman Edward Lampert unveiled the proposed pairing of longtime industry rivals four months ago. The deal will create the nation’s third-biggest retailer behind Wal-Mart Stores Inc. and Home Depot Inc.
