Kohl’s Receives An Unsolicited Buyout Bid, Others May Follow

Kohl’s has received an unsolicited acquisition offer of $9 billion from a group led by an activist hedge fund, according to a Wall Street Journal report. There is a high likelihood that news of this bid will lead others to place offers on the table, and Reuters reports that a private equity firm is in the process of doing just that.

The Journal reported that Acacia Research Group, part of Starboard Value, is leading a consortium that has offered around $9 billion to acquire Kohl’s. The offer of $64 a share represents a 37 percent premium to Kohl’s closing price of $46.84 on Friday. Read more at RetailWire.