By Denny Jacob
Kohl's Corp. shares rallied further Wednesday, advancing roughly 13% to $60.56, after The Wall Street Journal reported that private-equity firm Sycamore Partners and Canada's Hudson's Bay plan to submit takeover bids that could value the department-store chain above $9 billion.
The private-equity firm and the department-store chain plan to bid in the high $60s a share for Kohl's, which asked suitors to submit offers by Wednesday, WSJ reported. Kohl's has indicated to suitors it believes the company is worth over $70 a share.
Kohl's shares closed Tuesday at $53.82. They jumped to around $58 a share Wednesday morning after Axios reported that Hudson's Bay was considering a bid.
Write to Denny Jacob at denny.jacob@wsj.com
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March 16, 2022 at 10:51PM
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Kohl's Corp. Shares Rise 13% After WSJ Reports Takeover Bids - MarketWatch
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