Hudson’s Bay Co., the owner of Saks Fifth Avenue, is considering a bid for Kohl’s Corp., according to a report from The Wall Street Journal.
Hudson Bay partnered with private-equity firm Sycamore Partners on a plan to bid in the high $60s a share for Kohl’s, which asked suitors to submit offers by Wednesday.
Kohl’s rejected two separate takeover bids earlier this year but said this month that it was in touch with more than 20 parties and has provided some of them access to more financial data. Kohl’s has indicated to suitors it believes the company is worth over $70 a share,
Photo courtesy Kohl’s
