According to MarketWatch, big retailer Sears (SHLD) has bought 5.3 million shares of specialty shop manager Restoration Hardwas (RSTO) Sears picked up the shares for $30.2 million. RSTO is up 18% after hours.

Restoration Hardware Inc. agreed to be sold to a private equity firm Catterton Partners for $6.70 a share, or about $267 million. RSTO shares have traded above $7.25 after hours.

Looks like a bidding war.

Douglas A. McIntyre