FILE PHOTO: A sign marks a Kohl’s store in Medford, Massachusetts, U.S., February 21, 2017. REUTERS/Brian Snyder
January 23, 2022
(Reuters) – U.S. department store chain Kohl’s Corp has been approached by private equity firm Sycamore Partners about a potential takeover offer, Bloomberg News reported on Sunday, citing people familiar with the matter.
It is unclear how much Sycamore is willing to pay for the company, Bloomberg said.
The potential takeover bid comes when Kohl’s is already contending with an offer from Acacia Research Corp, which is backed by activist investment firm Starboard Value, Reuters reported last week.
Kohl’s is also under pressure from activist hedge fund Macellum Advisors GP LLC, which has urged the company to explore strategic options, including a sale, and has said it is planning to nominate directors to the board.
Sycamore declined to comment. Kohl’s did not immediately respond to Reuters’ request for a comment.
(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Additional reporting by Bhargav Acharya; Editing by Andrea Ricci)
Source: One America News Network
