Sears Holdings Corp. (NASDAQ:SHLD) on Thursday made another tentative offer of $4.55 per share for specialty home-furnishings retailer Restoration Hardware Inc. (NASDAQ:RSTO)
The offer was made in a letter Sears sent Thursday to a committee of the Restoration Hardware board of directors and disclosed in a filing with the Securities and Exchange Commission.
The offer mirrors a similar, $6.75-per-share offer Sears made for the Corte Madera, Calif.-based company in November. That offer was subsequently withdrawn after Restoration’s shares tumbled and a competing bid from private equity firm Catterton Partners was lowered to $4.50 per share.
In its letter, Sears also offers to increase the reverse breakup fee Restoration Hardware has in its agreement with Catterton by $5 million.