Kohl's rises on Oak Street real estate deal

KSS

02/09/2022 16:44

** Shares of department store operator Kohl's Corp  KSS.N 
up 6.6% at $30.25, reaching a week's high      
    ** According to a Reuters report, private equity firm Oak
Street Real Estate Capital LLC has made an offer to acquire as
much as $2 bln of property from KSS and have it lease back its
stores  urn:newsml:reuters.com:*:nL1N30902B
    ** It is not clear how many of the more than 1000 KSS's
stores would be involved in any deal with Oak Street  
    ** Oak Street has offered between $1.5 bln and $2 bln to buy
real estate from KSS and the two sides have met in the last few
days to discuss a possible deal, said sources familiar with the
matter
    ** Four of 17 brokerages rate the stock "buy" or higher, 10
"hold" and three "sell"; their median PT is $32
    ** Stock is down ~39% YTD, compared with a ~17% decline in
the S&P 1500 Composite Index  .SPSUP 

 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com))