Kohl's, target of activist investors, gets a buyout offerBy Bridget O'Brian, CNN Business(CNN) -- The quest for control of Kohl's is heating up. On Saturday, the retailer received an unsolicited $9 billion bid to go private from a consortium backed by an activist investor, according to published sources. It was the second push from an activist investor group in 2021. And last week, another activist hedge fund, Macellum Advisors, said in a letter Kohl's board of directors and leadership team spent last year "materially mismanaging the business and failing to implement necessary" improvements. If Kohl's board won't make changes, the company should explore a sale, the activists said.

Source: CNN January 24, 2022 05:19 UTC