Kohl's gains on Reuters report that Franchise Group has joined bidding

Franchise

12/04/2022 13:42

** Kohl's Corp shares  KSS.N  up 5.4% at $60.30 premarket 
    ** Reuters reports Franchise Group Inc  FRG.O , owner and
operator of retail stores such as The Vitamin Shoppe and Buddy's
Home Furnishings, has entered the race to buy co with a $9 bln
indicative offer  urn:newsml:reuters.com:*:nL2N2VQ2Z1
    ** FRG has informed KSS it would be willing to pay $69 per
share, a 20% premium to stock's last close, sources tell Reuters
    ** Luxury department store operator Hudson's Bay Co has
indicated it is willing to pay at least $70 per share for KSS,
sources say 
    ** KSS has jumped nearly 16% this year, largely on co
receiving multiple buyout offers; Rival Macy's Inc  M.N  is down
6.5% in the same period 

 (Reporting by Uday Sampath in Bengaluru)
 ((UdaySampath.Kumar@thomsonreuters.com; within U.S.+1 646 223
8780; Twitter: https://twitter.com/sampath_uday  ;))