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August 31, 2005

JPMorgan Agrees to Buy Sears Canada Credit-Card Unit (Update3) (Bloomberg.com)

Aug. 31 (Bloomberg) -- JPMorgan Chase & Co., the world's second-largest credit-card issuer, agreed to buy Sears Canada Inc.'s credit-card business for C$3.4 billion ($2.87 billion) in cash and debt. Shares of Sears Canada surged 20 percent, the biggest gain in at least 21 years.

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