Kohls Contacted by Sycamore Partners for Possible Takeover – Bloomberg | Photo credits: Mike Mozart (CC BY 2.0)
Jan 23 (Reuters) – U.S. department store chain Kohl’s has been approached by private equity firm Sycamore Partners about a possible takeover bid, Bloomberg reported on Sunday, citing people familiar with the matter.
It is not yet known how much Sycamore is willing to pay to get their hands on Kohl’s, the agency adds on its website https://bloom.bg/3AyF1eI.
This mark of interest comes at a time when Acacia Research has already submitted an offer, supported by the activist hedge fund Starboard Value – a shareholder of Kohl’s – to the American distribution group.
Kohl’s is also under pressure from activist hedge fund Macellum Advisors, which has urged the retailer to consider its strategic options, including a sale, and announced plans to appoint directors to its board.
Sycamore declined to comment, while Kohl’s did not immediately respond to inquiries from Reuters. (Report Jaiveer Singh Shekhawat in Bangalore, with Bhargav Acharya; French version Claude Chendjou)