EXCLUSIVE Kohl’s braces for bidders revising down offers -sources

Bidders competing to acquire Kohl’s Corp (KSS.N) are preparing to make binding offers that are lower than the indicative bids they submitted earlier this year to reflect the market downturn and the U.S. retailer’s deteriorating business, people familiar with the matter said.

The bidders, which include private equity firm Sycamore Partners, brand holding firm Franchise Group, and J.C. Penney investors Simon Property Group Inc (SPG.N) and Brookfield Asset Management Inc (BAMa.TO), plan to lower their offers by at least 10% to 15%, the sources said. Read more at Reuters.