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Kmart completes purchase of BlueLight.com

Kmart has announced that it has completed acquisition of Bluelight.com, its e-commerce subsidiary. As of the close of business on July 31, a majority of BlueLight.com stockholders had approved the merger. The Troy, Mich.-based discounter will issue 6 million shares of Kmart common stock and pay approximately

$15 million in cash for the transaction.

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