Eddie Lampert Increases Stake in AutoNation
New York Billionaire investor and Sears Holdings chairman Edward Lampert has acquired 1.3 million shares of AutoNation Inc., increasing his stake in the auto retailer to roughly 32.6%, according to a Securities and Exchange Commission filing Wednesday.
In a Form 4 filed with the SEC, Lampert reported he bought the shares on Monday and Tuesday for $15.18 to $15.55 apiece. Lampert's stock purchase brings his stake to 59.9 million shares, compared with about 184 million AutoNation shares outstanding as of Oct. 22, 2007.
As of Dec. 13, 2007, Lampert owned 58.8 million AutoNation shares, representing a 31.9% stake in the retailer.