Stock Groups

Sycamore Partners approaches Kohl’s with a potential takeover offer -Bloomberg News -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILEPHOTO: Sign marking a Kohl’s Store in Medford Massachusetts. U.S.A., 02/21/2017. REUTERS/Brian Snyder

(Reuters) – Sycamore Partners approached Kohl’s Corp. (NYSE:) about a possible takeover offer. Bloomberg News reported this Sunday, citing sources familiar with the matter.

Bloomberg reported that it is not clear how much Sycamore will pay to acquire the company.

According to Reuters, the potential bid for takeover comes as Kohl’s has already been competing with Acacia Research Corp’s offer, which was backed last week by Starboard Value activist investment firm Starboard Value.

Macellum Advisors GP LLC is also putting pressure on Kohl’s, urging it to look at strategic options including a sale and stating that it will nominate directors for the board.

Sycamore refused to comment. Reuters asked Kohl’s to comment, but the company did not reply immediately.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, futures, indexes or Forex. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. Because prices might not reflect the market, they may be incorrect. This means that prices cannot be considered indicative and are inappropriate for trading. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]