Kohl's Shares Jumped 7% as Sycamore and Franchise Group Submit Takeover Bids
Benzinga2022-06-03
Kohl’s Corp has received takeover bids form from private-equity firm Sycamore Partners and retail holding company Franchise Group, Inc, the Wall Street Journal reported.
Sycamore proposed $50 a share, and Franchise Group offered $60 per share, the report noted, valuing the company between $7 billion - $8 billion.
The bidders had previously said they intended to lower their offer by at least 10% - 15%.
Price Action: KSS shares are trading higher by 7.55% at $44.29 in premarket on the last check Friday.
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