By Michael Dabaie
Kohl’s Corp. said Monday it had received letters expressing interest in acquiring the company, without specifying where the letters had come from.
The Wall Street Journal reported that a consortium backed by activist hedge fund Starboard Value LP offered roughly $9 billion to buy Kohl’s, citing people familiar with the matter.
Bloomberg reported Sycamore Partners reached out to Kohl’s about a deal, citing people familiar with the matter.
Kohl’s said Monday its board will determine the course of action that it believes is in the best interests of the company and its shareholders.
“Kohl’s does not intend to further comment publicly on these matters unless it determines it is in the best interests of shareholders to do so,” the retailer said.
Shares were 33% higher to $62.29 premarket.
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