Kohl’s confirms approach about potential acquisition
NEW YORK (AP) — Kohl’s is confirming that it has been approached about a possible sale of the department store chain, sending shares up more than 30% in early trading.
The company said that it would not comment further, but its confirmation Monday follows media reports that the private equity firm Sycamore Partners had approached Kohl’s about a potential deal.
Days earlier, a group backed by activist hedge fund Starboard Value LP reportedly bid $64 per share or about $9 billion.
The Menomonee Falls, Wisconsin, based retailer said its board is reviewing the offers.
Recent News Headlines from News 8 Now
News 8 Now Exclusive: White House Climate Advisor Gina McCarthy addresses funding for clean drinking water
COPYRIGHT 2022 THE ASSOCIATED PRESS. ALL RIGHTS RESERVED. THIS MATERIAL MAY NOT BE PUBLISHED, BROADCAST, REWRITTEN OR REDISTRIBUTED.