Kohl's rises after report of takeover bids

Franchise

03/06/2022 11:34

** Shares of department store Kohl's Corp  KSS.N  climb 6.5%
to $43.86 premarket
    ** KSS received takeover bids from private equity firm
Sycamore Partners as well as retail holding co Franchise Group
Inc  FRG.O , the Wall Street Journal reported https://on.wsj.com/3m9ATLD,
 citing people familiar with the matter
    ** Sycamore's offer is in the mid-$50s per share, while FRG
has offered about $60, putting the potential deal value at
around $7 bln or $8 bln - WSJ
    ** KSS closed at $41.18 on Thursday
    ** Reuters had reported last week that KSS' bidders,
including Sycamore and FRG, were preparing to making binding
offers that were lower than their indicative offers from earlier
in the year, amid market volatility and a fall in consumer
spending urn:newsml:reuters.com:*:nL2N2XG2LK
    ** Stock had fallen 17% this year through Thursday's close

 (Reporting by Ruhi Soni in Bengaluru)
 ((Ruhi.Soni@thomsonreuters.com
Twitter: https://twitter.com/ruhithere))