Private-equity firm Sycamore Partners and Canada’s Hudson’s Bay plan to submit takeover bids for
Kohl’s Corp.
that could value Kohl’s above $9 billion, according to people familiar with the matter.
The private-equity firm and the department-store chain plan to bid in the high $60s a share for Kohl’s, which asked suitors to submit offers by Wednesday, the people said. It couldn’t be learned whether other suitors plan to bid.
A deal is far from guaranteed. Kohl’s has indicated to suitors it believes the company is worth over $70 a share, one of the people said.
Kohl’s shares jumped Wednesday morning after Axios reported that Hudson’s Bay was considering a bid, and rose further following The Wall Street Journal’s report. They closed up over 17%…
