{"id":419784,"date":"2022-03-21T21:24:14","date_gmt":"2022-03-21T18:24:14","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/saks-fifth-avenue-owner-likely-front-runner-in-bid-for-kohls-source\/"},"modified":"2022-03-21T21:24:14","modified_gmt":"2022-03-21T18:24:14","slug":"saks-fifth-avenue-owner-likely-front-runner-in-bid-for-kohls-source","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/saks-fifth-avenue-owner-likely-front-runner-in-bid-for-kohls-source\/","title":{"rendered":"#Saks Fifth Avenue owner likely front-runner in bid for Kohl&#8217;s: source"},"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-6a36098fa0e88\" 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-6a36098fa0e88\" 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\/saks-fifth-avenue-owner-likely-front-runner-in-bid-for-kohls-source\/#%E2%80%9CSaks_Fifth_Avenue_owner_likely_front-runner_in_bid_for_Kohls_source%E2%80%9D\" >&#8220;Saks Fifth Avenue owner likely front-runner in bid for Kohl&#8217;s: source&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CSaks_Fifth_Avenue_owner_likely_front-runner_in_bid_for_Kohls_source%E2%80%9D\"><\/span>&#8220;Saks Fifth Avenue owner likely front-runner in bid for Kohl&#8217;s: source&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Canadian department store chain Hudson\u2019s Bay Co. is the likely front-runner in a bidding war for budget department store Kohl\u2019s, a source familiar with the matter told The Post.<\/p>\n<p>Kohl\u2019s has received \u201cmultiple\u201d expressions of interest to acquire the chain, the company said on Monday.<\/p>\n<p>The proposals, which were submitted on March 16, were \u201cnon-binding\u201d and did not include commitments of financing, the Menomonie, Wisconsin-based retailer said.<\/p>\n<p>Toronto-based HBC, which owns Saks Fifth Avenue and Hudson\u2019s Bay Co., could bring Kohl\u2019s to Canada. Other interested parties are reportedly private equity firms Sycamore Partners and Leonard Green Partners.<\/p>\n<p>All three declined to comment to The Post on an interest in Kohl\u2019s.<\/p>\n<p>Kohl\u2019s came into play, hiring Goldman Sachs to lead a potential sales process, after activist investors Macellum and Engine Capital urged the company to put itself up for sale and to revamp its board, arguing that the company is underperforming.<\/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\/Kohlsstores-152-shopping-basket.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"A  Kohl's shopping cart on the floor in a story.\" class=\"wp-image-21601787\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/Kohlsstores-152-shopping-basket.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/Kohlsstores-152-shopping-basket.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/Kohlsstores-152-shopping-basket.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The Canadian-based Hudson\u2019s Bay department store is among the bidders for Kohl\u2019s.<\/figcaption><figcaption><span class=\"credit\">REUTERS<\/span><\/figcaption><\/figure>\n<p>Kohl\u2019s rejected two acquisition offers earlier this year, including one from Sycamore, and then implemented a so-called \u201cpoison pill\u201d to fend off a hostile takeover.<\/p>\n<p>In a letter to shareholders on Monday addressing the bids and an effort by Macellum to take over its board, Kohl\u2019s said: \u201cTo ensure we are maximizing shareholder value, your Board is reviewing alternatives through an intentional and ongoing dialog with potential bidders. This process is robust and will be measured against the value creation potential of our compelling standalone plan. Regardless of the outcome of this process, we are excited about the many opportunities ahead for Kohl\u2019s.\u201d<\/p>\n<p>The company will likely make a decision about the current offers at its May 11 annual meeting, a source familiar with the process told The Post.\u00a0<\/p>\n<p>Kohl\u2019s shares are down less than 1% to $62 on Monday.\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 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> 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\/21\/saks-fifth-avenue-owner-likely-front-runner-in-bid-for-kohls-source\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Saks Fifth Avenue owner likely front-runner in bid for Kohl&#8217;s: source&#8221; Canadian department store chain Hudson\u2019s Bay Co. is the likely front-runner in a bidding war for budget department store Kohl\u2019s, a source familiar with the matter told The Post. Kohl\u2019s has received \u201cmultiple\u201d expressions of interest to acquire the chain, the company said on&#8230;<\/p>\n","protected":false},"author":1,"featured_media":419785,"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\/Kohlsstores-150-feature.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[127029,77694,70790,70238,70584],"class_list":["post-419784","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-3-21-22","tag-activist-investors","tag-goldman-sachs","tag-kohls","tag-mergers-acquisitions"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/419784","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=419784"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/419784\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/419785"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=419784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=419784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=419784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}