(Reuters] -Kohl’s Corp has adopted a shareholder right plan to defend itself against hostile takeovers. This comes just days after the retailer received bids for buyouts that it said were too low.

The shares of Kohl (NYSE:) have risen more than 25% during the last 2 weeks, based on the news of the offer, but fell 2.2% in premarket trades. According to Refinitiv data, the company was valued at $8.15 billion by Thursday’s close.

Acacia Research Corp was backed by activist investor Starboard Value and offered $64 per share to acquire the department store chain. The company is valued at $9 billion.

Sources also told Reuters, that Sycamore partners was working on an all cash offer for Kohl’s at $65 per Share.

Kohl’s stated Thursday that the offerings did not reflect the company’s future growth, cash flow generation and cash flows. However, they didn’t identify the suitors.

Sycamore did not comment. Acacia also declined to comment.

Kohl’s announced that it hired Goldman Sachs Investment Bank (NYSE:) for talks with potential buyers.

Macellum Advisors & Engine Capital are angry at Kohl’s performance and have been pressing the company to look into other options, including selling.

Kohl’s said that shareholder rights plans, commonly known as the “poison pills”, are set to expire on February 20, 2023. These rights are available to anyone or any group that acquires at least 10% of Kohl’s.

Macellum holds approximately 5% of Kohl’s stock at the moment.