Sears in pact to view Restoration Hardware data

ATLANTA, Dec 10 (Reuters) - Sears Holdings Corp (SHLD.O) and Restoration Hardware Inc RSTO.O reached an agreement allowing the operator of Kmart and Sears stores to view the specialty retailer's confidential data, according to a regulatory filing on Monday.

Sears had sought access to Restoration Hardware's financial information after offering $6.75 a share, or about $269 million, for the company. That topped a management-led buyout valued at $6.70 a share that Restoration agreed to last month.

Restoration had responded that it would provide financial data to Sears if the department-store operator agreed to refrain from a hostile takeover and other conditions.

The confidentiality agreement between the two companies, signed on Dec. 7, was disclosed in a U.S. Securities and Exchange Commission filing on Monday.

Sears Holdings, which is controlled by hedge fund manager Edward Lampert, disclosed in November that it owns a 13.7 percent stake in Restoration and had initially proposed a $4-a-share bid.

Hoffman Estates, Illinois-based Sears reported a 99 percent drop in third-quarter profit late last month, and said sales and margins would probably remain under pressure for the current quarter as the softer U.S. housing market and credit concerns hurt consumer spending.

Sears Holdings shares fell 57 cents to $114.50 on Nasdaq and Restoration Hardware fell 13 cents, or 1.8 percent, to $6.93.

(Reporting by Karen Jacobs; editing by Leslie Gevirtz)

((karen.jacobs@reuters.com; +1 404 493 3656)) Keywords: SEARSHOLDINGS/RESTORATION

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