Kohl's jumps on report of bidding interest from Acacia Research

Acacia Research

18/01/2022 15:46

(Updates)
    ** Shares of department store chain  KSS.N  rise as much as
6.7% to $50.97 in early trade; last up ~3% 
    ** Acacia Research  ACTG.O  has reached out to Kohl's to
express interest in making a bid for the retailer, two sources
tell Reuters  urn:newsml:reuters.com:*:nL1N2TY14T
    ** ACTG is backed by activist investor Starboard Value and
buys businesses in sectors including technology and healthcare 
    ** Earlier on Tuesday, hedge fund Macellum Advisors GP LLC
further pushed KSS to add new board members and to explore
options including a sale  urn:newsml:reuters.com:*:nL4N2TY2PO
    ** KSS in Dec. faced pressure from Engine Capital LP to
consider sale of co or separate its e-commerce division to
improve stock price  urn:newsml:reuters.com:*:nL4N2SR2N6
    ** KSS ended 2021 ~21% higher, but is down 6.5% since Engine
Capital's push as of last close

 (Reporting by Susan Mathew and Deborah Sophia in Bengaluru)
 ((susan.mathew@thomsonreuters.com))