{"id":417124,"date":"2022-03-16T23:00:37","date_gmt":"2022-03-16T20:00:37","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/kohls-ignites-bidding-war-and-stock-jumps-16\/"},"modified":"2022-03-16T23:00:37","modified_gmt":"2022-03-16T20:00:37","slug":"kohls-ignites-bidding-war-and-stock-jumps-16","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/kohls-ignites-bidding-war-and-stock-jumps-16\/","title":{"rendered":"#Kohl&#8217;s ignites bidding war and stock jumps 16%"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3a10feaa954\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3a10feaa954\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/kohls-ignites-bidding-war-and-stock-jumps-16\/#%E2%80%9CKohls_ignites_bidding_war_and_stock_jumps_16%E2%80%9D\" >&#8220;Kohl&#8217;s ignites bidding war and stock jumps 16%&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CKohls_ignites_bidding_war_and_stock_jumps_16%E2%80%9D\"><\/span>&#8220;Kohl&#8217;s ignites bidding war and stock jumps 16%&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>A bidding war for discount department store Kohl\u2019s has erupted, sending its share price up more than 16%. <\/p>\n<p>At least three bidders \u2014 including Hudson\u2019s Bay, the Canadian holding company that owns Saks Fifth Avenue \u2014 are submitting bids Wednesday to potentially acquire the discount department store, The Post has learned.<\/p>\n<p>The other two bidders are believed to be private-equity firms, Leonard Green &amp; Partners and Sycamore Partners. The latter did not respond for comment. Hudson\u2019s Bay and Leonard Green declined to comment. <\/p>\n<p>After activists investors agitated for the Wisconsin-based retailer to put itself up for sale and make changes to its management, Kohl\u2019s swattted away two acquisition offers earlier this year.<\/p>\n<p>Since then, the retailer\u2019s banker \u2014 Goldman Sachs \u2014 set up a formal bidding process several weeks ago. According to a source with knowledge of the situation, the bids were due Wednesday.<\/p>\n<p>The bids, according to the source, are slightly higher than the previous two bids from Sycamore Partners at $65 per share and from activist investor Acacia Research at $64 per share.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/department-11-Hudsons-Bay-store.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"A Hudson's Bay department store entrance.\" class=\"wp-image-21544917\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/department-11-Hudsons-Bay-store.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/department-11-Hudsons-Bay-store.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/department-11-Hudsons-Bay-store.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The Canadian company that owns Hudson\u2019s Bay and Saks Fifth Avenue is submitting a bid to acquire Kohl\u2019s.<\/figcaption><figcaption><span class=\"credit\">Toronto Star via Getty Images<\/span><\/figcaption><\/figure>\n<p>The new offers are for between $67 and $69 per share, this source said<strong>.<\/strong><\/p>\n<p>As previously disclosed, the board\u2019s engagement with potential bidders is robust and ongoing,\u201d Kohl\u2019s spokeswoman, Jen Johnson said. \u201cThe board will measure potential bids against a compelling standalone plan and choose the path that it believes maximizes shareholder value.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/department-10-Kohls-parking-lot.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"A Kohl's department store and parking lot.\" class=\"wp-image-21544942\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/department-10-Kohls-parking-lot.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/department-10-Kohls-parking-lot.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/department-10-Kohls-parking-lot.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Kohl\u2019s has been under pressure by activist investors to sell itself or to make management changes.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>Pressure has been mounting on the 1,162 store chain to shake up its management and or to sell itself this year with activist investor Macellum calling for the company to overhaul its board of directors entirely. Engine Capital, which on Wednesday also submitted another letter to the board, called for a board overhaul.\u00a0<\/p>\n<p>\u201cIt is our understanding that Kohl\u2019s is finally running a competitive sale process months after we urged the Board to do so,\u201d according to the letter. \u201cWe remain concerned, however, that the Board may reject a final offer based on a misguided and unrealistic conclusion that it undervalues Kohl\u2019s.\u201d<\/p>\n<p>If Toronto-based Hudson\u2019s Bay, which also owns the Canadian department store by the same name, ultimately acquires the company, it could bring the chain to Canada for the first time.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/department-09-HBC-logo-on-building.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"The HBC logo on a building.\" class=\"wp-image-21544980\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/department-09-HBC-logo-on-building.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/department-09-HBC-logo-on-building.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/department-09-HBC-logo-on-building.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>HBC owns Hudson\u2019s Bay and Saks Fifth Avenue department stores.<\/figcaption><figcaption><span class=\"credit\">picture alliance via Getty Image<\/span><\/figcaption><\/figure>\n<p>Sycamore Partners owns Staples, Ann Taylor, Lane Bryant and Belks department store, and it most recently pulled out of a deal to acquire Victoria\u2019s Secret after the pandemic began \u2014 which resulted in litigation.<\/p>\n<p>Leonard Green &amp; Partners owns brand licensing giant, Authentic Brands Group, owner of Aeropostale, Barneys New York, Forever 21 and dozens of other retail brands.<\/p>\n<p>Kohl\u2019s shares were up by more than 16% on the bidding <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/03\/16\/kohls-ignites-bidding-war-and-stock-jumps-16\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Kohl&#8217;s ignites bidding war and stock jumps 16%&#8221; A bidding war for discount department store Kohl\u2019s has erupted, sending its share price up more than 16%. At least three bidders \u2014 including Hudson\u2019s Bay, the Canadian holding company that owns Saks Fifth Avenue \u2014 are submitting bids Wednesday to potentially acquire the discount department store,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":417125,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/department-12-Kohls-store.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[126855,126880,70238,70584,72868,70470],"class_list":["post-417124","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-3-16-22","tag-hudsons-bay","tag-kohls","tag-mergers-acquisitions","tag-private-equity","tag-retail"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/417124","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=417124"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/417124\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/417125"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=417124"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=417124"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=417124"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}