(Kohl’s) Kohl’s Corporation’s stock rose more than 12% on Tuesday after entering into negotiations with Franchise Group to be acquired at $60.00 per share.
Kohl’s said that the exclusive negotiations would happen for a period of three weeks. The period will allow FRG and its financing partners to conduct due diligence and financing arrangements.
The deal is yet to be approved by the boards of the two companies and could still fall apart.
Kohl’s says that its board remains focused on securing the best deal that maximizes value for its shareholders.
KSS: NYSE is up +13.49% in premarket.
