Kohl’s Is Planned To Be Acquired By Sycamore and Acacia

Kohl’s Corporation’s KSS sees a sharp rise in premarket of nearly 30% to $60, which is lower by $2 from a 52-week high. During the first half of last week, the price was moving up, eventually reaching $53.11 on Wednesday. However, the stock fell to $46.85 as of the second half of January 23 with a trading volume of $6,266,962. Kohl’s has opened more than 1,162 stores in all states since 1962, selling clothing, footwear, cosmetics, and home goods. In addition, Kohl’s is engaged in the sale of sportswear, which accounts for about 30% of the business.

Kohl's

The sudden jump in the stock price comes as two companies have shown interest in acquiring Kohl’s in recent days. The first of these, Acacia Research Corp., financially backed by Starboard, filed a bid to buy Kohl’s for $64 per share in cash, by the way, this is 37% more than the price on the last day of official trading and $2 more than the annual maximum. Sycamore Partners, a few days after Acacia, expressed interest in the department store retail chain. So far, the proposed price is unknown. Judging by the fact that representatives haven’t commented on this news yet, we can’t speak with complete certainty about the acquisition.