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Benzinga
Benzinga
Business
Shivani Kumaresan

Kohl's Receives $9B Buyout Offer From Franchise Group: Reuters

Kohl Franchise Group KSS Franchise Group Inc Nasdaq NYSE Sycamore Partners
  • Kohl’s Corp (NYSE:KSS) has received a $9 billion buyout offer from Franchise Group Inc (NASDAQ:FRG), Reuters reported.
  • The report specified that the franchise Group plans to pay $69 per share of Kohl’s.
  • Kohl’s, under pressure from activist hedge funds regarding a sale, will now have more options with Franchise’s entry.
  • The report also noted Hudson's Bay Company is planning to offer $70 per Kohl’s share.
  • Kohl’s has also received an offer from the private equity firm Sycamore Partners.
  • Price Action: KSS shares are trading higher by 6.52% at $60.97 on the last check Tuesday.
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