Kohl’s (NYSE:KSS) stock is in the news today as reports claim that Franchise Group (NASDAQ:FRG) is considering decreasing its bid to acquire the retailer.
Let’s go over everything investors need to know about this news below!
- According to recent reports, Franchise Group is looking at a bid closer to $50 per share for KSS stock.
- That’s a significant drop compared to the previously reported bid of $60 per share.
- This newest report comes from insiders close to the matter.
- They also state that Franchise Group is debating if buying Kohl’s is the best use of its capital.
- All of this comes after the two entered into exclusive talks for the acquisition earlier this month.
- Those initial talks valued Kohl’s at $8 billion, but that might not be the case if a lower offering is made.
- Another thing to keep an eye on is Kohl’s management team.
- Part of the discussions between the two companies was for KSS to keep its current leadership.
- Reports about this decision came out on Tuesday, which means it could be related to the lowered price offering from Franchise Group.
- Even so, investors will have to wait for official word from Kohl’s and Franchise Group to know the exact details of the acquisition.
KSS stock is up slightly as of Thursday morning. However, the stock is still down 21.6% since the start of the year.
Investors searching for more of the most recent stock market news are in the right place!
We’ve got all the hottest stock news that traders need to know about for Thursday! That includes what has Ideanomics (NASDAQ:IDEX) stock rising higher today, Warren Buffett buying more shares of Occidental Petroleum (NYSE:OXY) stock, and this morning’s biggest pre-market stock movers. You can learn more about these matters at the following links!
More Stock Market News for Thursday
- Why Is Ideanomics (IDEX) Stock Climbing Higher Today?
- Warren Buffett Keeps Buying OXY Stock
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
