Sycamore Partners approaches Kohl's with a potential takeover offer -Bloomberg News

Acacia Research

23/01/2022 20:09

Jan 23 (Reuters) - U.S. department store chain Kohl's Corp
 KSS.N  has been approached by private equity firm Sycamore
Partners about a potential takeover offer, Bloomberg News
reported on Sunday, citing people familiar with the matter. 
    It is unclear how much Sycamore is willing to pay for the
company, Bloomberg said https://bloom.bg/3AyF1eI.
 
    The potential takeover bid comes when Kohl's is already
contending with an offer from Acacia Research Corp  ACTG.O ,
which is backed by activist investment firm Starboard Value,
Reuters reported last week.  urn:newsml:reuters.com:*:nL1N2TY16E
    Kohl's is also under pressure from activist hedge fund
Macellum Advisors GP LLC, which has urged the company to explore
strategic options, including a sale, and has said it is planning
to nominate directors to the board.  urn:newsml:reuters.com:*:nL1N2SR2QD  urn:newsml:reuters.com:*:nL4N2TY2PO
    Sycamore declined to comment. Kohl's did not immediately
respond to Reuters' request for a comment. 

 (Reporting by Jaiveer Singh Shekhawat in Bengaluru; Additional
reporting by Bhargav Acharya; Editing by Andrea Ricci)
 ((JaiveerSingh.Shekhawat@thomsonreuters.com;))