{"id":453091,"date":"2022-05-25T19:06:39","date_gmt":"2022-05-25T16:06:39","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/kohls-braces-for-bidders-to-slash-takeover-offers-report\/"},"modified":"2022-05-25T19:06:39","modified_gmt":"2022-05-25T16:06:39","slug":"kohls-braces-for-bidders-to-slash-takeover-offers-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/kohls-braces-for-bidders-to-slash-takeover-offers-report\/","title":{"rendered":"#Kohl&#8217;s braces for bidders to slash takeover offers: report"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 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-6a2718f7e1038\" 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-6a2718f7e1038\" 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-braces-for-bidders-to-slash-takeover-offers-report\/#%E2%80%9CKohls_braces_for_bidders_to_slash_takeover_offers_report%E2%80%9D\" >&#8220;Kohl&#8217;s braces for bidders to slash takeover offers: report&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CKohls_braces_for_bidders_to_slash_takeover_offers_report%E2%80%9D\"><\/span>&#8220;Kohl&#8217;s braces for bidders to slash takeover offers: report&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Bidders competing to acquire\u00a0Kohl\u2019s\u00a0are preparing to make binding offers that are lower than the indicative bids they submitted earlier this year to reflect the market downturn and the retailer\u2019s deteriorating business, people familiar with the matter said.<\/p>\n<p>The bidders, which include private equity firm Sycamore Partners, brand holding firm Franchise Group, and J.C. Penney investors Simon Property Group\u00a0and Brookfield Asset Management, plan to lower their offers by at least 10% to 15%, the sources said.<\/p>\n<p>Starboard Value-backed Acacia Research is also mulling next steps after its bid of $64 a share, made in January, was quickly rejected by the company as being too low.<\/p>\n<p>Some of them had indicated in recent days they were willing to pay as much as $62 per share for\u00a0Kohl\u2019s, according to the sources.\u00a0Kohl\u2019s\u00a0shares are currently trading around $36, having lost more than 40% of their value this month amid concerns that raging inflation and lower consumer spending will weigh on its business prospects.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/kohls-bidders1.jpg?w=1024\" alt=\"Kohl's sign\" class=\"wp-image-22405219\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/kohls-bidders1.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/kohls-bidders1.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/kohls-bidders1.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Kohl\u2019s cut its full-year earnings forecast last week.<\/figcaption><figcaption><span class=\"credit\">REUTERS<\/span><\/figcaption><\/figure>\n<p>Earlier this year some bidders had indicated they were willing to pay a higher price, with luxury department store operator Hudson\u2019s Bay Company signaling it was willing to pay at least $70 a share.<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>The company cut its full-year earnings forecast last week and said its profit in the first quarter of 2022 fell to 11 cents per share, missing analyst estimates averaging 70 cents, according to Refinitiv data.\u00a0<\/p>\n<p>The sources requested anonymity because the matter is confidential.<\/p>\n<p>The bidders either declined to comment or did not respond to requests for comment.<\/p>\n<p>A\u00a0Kohl\u2019s\u00a0spokesman declined to comment. The company said on its earnings call last week that it has informed potential buyers about the process of submitting \u201cactionable\u201d bids.<\/p>\n<p>Bidders have been assured by\u00a0Kohl\u2019s\u00a0they would have enough time to prepare their offers given the challenging financing environment, the sources said. Real estate investment firm Oak Street Real Estate Capital is expected to offer financing to the bidders, the sources added.<\/p>\n<p>Best and final bids were originally due at the end of May and now bidders might get an additional two weeks, according to the sources.<\/p>\n<p>Kohl\u2019s\u00a0sizable real estate holdings, which analysts have said could be worth between $4 billion and $6 billion, make an acquisition financeable, the sources said.<\/p>\n<p>Two weeks ago,\u00a0Kohl\u2019s\u00a0fended off a board challenge from hedge fund Macellum Advisors, which has been pushing the company to sell itself, arguing management has not done enough to boost sales and improve the business.\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\/05\/25\/kohls-braces-for-bidders-to-slash-takeover-offers-report\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Kohl&#8217;s braces for bidders to slash takeover offers: report&#8221; Bidders competing to acquire\u00a0Kohl\u2019s\u00a0are preparing to make binding offers that are lower than the indicative bids they submitted earlier this year to reflect the market downturn and the retailer\u2019s deteriorating business, people familiar with the matter said. The bidders, which include private equity firm Sycamore Partners,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":453092,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/kohls-bidders2.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[129614,70238,70584,5015,70360],"class_list":["post-453091","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-5-25-22","tag-kohls","tag-mergers-acquisitions","tag-retailers","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/453091","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=453091"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/453091\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/453092"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=453091"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=453091"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=453091"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}