Sears and Kmart to merge
Sears and Kmart decide to throw in their lot together in the face of almost unstoppable domination by Wal-Mart. Pictured here, Edward S. Lampert (L), chairman of Kmart, and Alan J. Lacy, the current chairman and chief executive officer of Sears, listen to remarks at a press conference in New York November 17, 2004, held to discuss a surprise deal to merge that, if successful, may create the third-largest U.S. retailer.

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