Kohl’s shares are up 15% on Wednesday: explore why - BitcoinEthereumNews.com
Kohls Corporation shares (NYSE: KSS) are up more than 15% this morning on reports that two new buyers have lined up to bid for the largest U.S. department store chain. Hudson‘s Bay, Sycamore considering an offer to buy Kohl’s จากการวิเคราะห์เพื่อบรรลุเป้าหมายของ Wall Street Journal, Canada-headquartered Hudson‘s Bay might be interested in buying Kohl’s at high $60s per share. Citing several anonymous sources, it also disclosed Sycamore Partners as a potential bidder as well. Both Hudson and Sycamore, however, are yet to make an official comment on the news, responding to which in an email statement, Kohls spokeswoman said: As previously disclosed, the boards engagement with potential bidders is robust and ongoing. The board will measure potential bids against a compelling standalone plan and choose the path that it believes maximises shareholder value. Activist: Kohls long-term targets were disappointing The reports come shortly after Kohls rejected $64 a share proposal from Acacia Research, citing undervaluation. CEO Michelle Gass revealed updated financial targets for the longer-term last week that Engine Capital on Wednesday said were “extremely” disappointing. In a letter to Kohls board, the activist investor wrote: It‘s imperative for the Board to reassess its view of Kohl’s intrinsic value. We remain concerned that the Board may reject a final offer