2022-04-12 08:29:24 KSS Kohl's
Franchise Group
04/12/22 04/1208:29 04/12/2208:29 | Franchise Group tells Kohl's willing to pay $69 per share, Reuters reportsFranchise Group (FRG) has informed Kohl's (KSS) it would be willing to pay $69 per share or $9B to acquire the company, subject to due diligence, Svea Herbst-Bayliss of Reuters reports, citing three people familiar with the matter. However, the bid is not the highest offer, as Hudson's Bay Company has indicated it is willing to pay at least $70 per share for Kohl's, sources told Reuters. A consortium backed by private equity firm Leonard Green & Partners, which includes Authentic Brands, has also made a bid for Kohl's, the people added. Sycamore Partners and a group that includes Acacia Research Corp (ACTG) made offers for Kohl's during the first round of bidding, the sources said. Franchise Group has a market value of $1.6B so its s ability to carry out the deal would largely depend on the backing of Vintage Capital Management, Herbst-Bayliss notes. Shares of Kohl's are up 5% to $60.00 in premarket trading. Reference Link Kohl's
Franchise Group
Acacia Research
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