The Wall Street Journal: Sycamore and Hudson’s Bay prepare takeover bids for Kohl’s

United States

Private-equity firm Sycamore Partners and Canada’s Hudson’s Bay plan to submit takeover bids for Kohl’s Corp. KSS, +14.91%  that could value the department-store chain 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 closed Tuesday at $ 53.82. They jumped to around $ 58 a share Wednesday morning after Axios reported that Hudson’s Bay was considering a bid.

An expanded version of this story appears on

Popular stories from