Department store chain Kohl’s Corp received an unsolicited offer from activist hedge fund Starboard Value LP to buy the company Friday. The WSJ reported that sources disclosed a group led by a group controlled by Starboard, Acacia Research Corp. offered to buy Kohl’s for $64 a share in cash. Acacia said it has received assurances from bankers it has financing for the bid. Reuters reported earlier this week that Acacia was exploring a possible bid for Kohl’s. Kohl’s $KSS shares … Continue reading “Kohl’s Gets $9 Billion Bid 37% Above Market from Activist Hedge Fund”
Department stores reporting 4Q holiday and e-commerce sales give us a look if retailers are going to survive the retail apocalypse and the Amazon takeover. Macys $M, Kohl’s $KSS, Nordstrom $JWN and J.C.Penney $JCP report this week.