The deal would value Kohl's at around $8 billion, The Wall Street Journal reported, about 5 times more than it was worth last week. Kohl's said that during the negotiation period there were no assurances a deal would be reached. The department store has drawn the attention of an activist investor and an array of bidders. A sale would end a grinding, year-long saga between Kohl's and some Wall Street investors over the company's future. Department stores including Kohl's have been undercut on prices by discount players from the bottom, and prestige by luxury stores at the top.

Source: The Guardian June 08, 2022 21:48 UTC