Kohl’sPremarket trading on Monday saw shares rise more than 26% as department store chain receives takeover proposals from at least two potential suitors.

People familiar with the matter say that Sycamore, a private equity firm, is prepared to pay $65 per share for Kohl’s. This would imply a 39% premium over the stock’s closing price of $46.84. Because the talks are confidential, these people asked for anonymity.

People familiar with the proposal said that Sycamore offered Sycamore $64 per share in exchange for Kohl’s.

CNBC has been told by sources that Acacia and Starboard will likely team up with Oak Street Real Estate Capital in an attempt to sell Kohl’s property to raise additional funds. Kohl’s, however, has always opposed any sale-leaseback arrangement.

CNBC reached out to Sycamore Acacia Oak Street Real Estate, Sycamore and Kohl’s representatives for comment.

Kohl’s was also a hot topic in the recent weeks. facing pressure from activist investors Macellum AdvisorsEngine Capital in order to grow its business and raise its stock prices.

Kohl’s responded that their strategy was working. Kohl’s cited the growth in sales and profitability during the third quarter, as well as the launch of new initiatives such Sephora shops within its stores.

This was April last year the department store chain reached a dealMacellum joined a group composed of activists who wanted to make two nominees for its board of independent directors.

Michael Binetti from Credit Suisse said that Kohl’s may warrant a per-share price of $70 to $80. This is based on its retail operations.

Binetti stated that Kohl’s could be a bit more aggressive in its real estate strategies to increase shareholder returns.

Kohl’s stock had a market capitalization of $6.5 Billion as of Friday’s closing.