Sears to Move to Nasdaq After Kmart Merger

Sears Roebuck and Co. (S), which is being bought by Kmart Holdings Corp. (KMRT), will change its listing to the Nasdaq Stock Market (search) from the New York Stock Exchange, effectively ending its nearly 100 year association with the Big Board.

In a filing with the Securities and Exchange Commission (search) on Tuesday, Sears said that once its merger with Kmart was complete, it would list on the Nasdaq.

"We have applied for quotation of Holdings common stock on the Nasdaq Stock Market," Sears said. A trading symbol has not yet been assigned to the combined company, which will be called Sears Holding Corp (search).

In a statement, Robert Greifeld, president and chief executive officer of the Nasdaq Stock Market, said that the market was "proud to welcome Sears Holdings Corporation to the Nasdaq and to our family of companies."

"Sears joins industry leaders who value a transparent marketplace and who seek to redefine their respective industries through leadership and innovation," he added.

A spokesman for the NYSE (search) was not immediately available to comment. But a source familiar with the discussions said that the NYSE and the Nasdaq -- both bitter rivals -- competed fiercely against each other to obtain the listing.