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Kohl’s Meets With Potential Buyer

By  |  January 24, 2022

Kohl’s confirmed on Monday that it has been approached about a possible sale of the department store chain, reported the Washington Post.

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    The company would not comment further, but its confirmation follows media reports that private equity firm Sycamore Partners had approached Kohl’s about a potential deal. Days earlier, a group called Acacia Research, backed by activist hedge fund Starboard Value, reportedly bid $64 a share, or about $9 billion.

    The reported offers come just a week after activist hedge fund Macellum Advisors released a letter urging Kohl’s to explore strategic options, including a sale, if the chain doesn’t take action to improve its business and increase its stock price.

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