Sycamore, Franchise Group Submit Bids for Kohl's: WSJ

Kohl’s Corp KSS has received takeover bids form from private-equity firm Sycamore Partners and retail holding company Franchise Group, Inc FRG, the Wall Street Journal reported.
Sycamore proposed $50 a share, and Franchise Group offered $60 per share, the report noted, valuing the company between $7 billion - $8 billion.
The bidders had previously said they intended to lower their offer by at least 10% - 15%.
Also Read: Multiple Bidders, Key Executives Departure, Mixed Q1 Earnings - Lots Going On With Kohl's
Price Action: KSS shares are trading higher by 6.80% at $43.98 in premarket on the last check Friday.
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