logo
  

Kohl's Urges Shareholders To Vote For All Of Its Director Nominees

Kohl's Corp. (KSS) urged its shareholders to vote for all 12 of its Director nominees.

The company's Annual Meeting of shareholders is scheduled to be held on May 12, 2021. Kohl's shareholders of record as of the close of business on March 24, 2021 will be entitled to vote at the Annual Meeting.

Kohl's noted that Activists have not presented any new value-enhancing ideas. Many of the ideas they have raised were well underway at Kohl's for some time or were otherwise addressed in October strategy announcement.

Kohl's stated that the only proposal the Activists have offered that the company is not currently pursuing is a form of short-term financial engineering - a sale-leaseback transaction. It would be an inefficient means to access capital for Kohl's given current market conditions, and as a result would destroy shareholder value.

Kohl's warned that the sale-leaseback transaction would add operating risk ---e.g., by increasing rent expense and leverage-- and would likely negatively impact investment-grade rating.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Google has revoked its three-year ban on cryptocurrency-related ads on its sites under the search giants' new ad services policy. This action will now allow cryptocurrency exchanges and wallets certified by Google to advertise their products and services on Google's network, beginning August 3, 2021. The UK's competition regulator said Friday that it has secured commitments from Google to address concerns about the tech giant's proposal to remove third-party cookies from Chrome browser. Archer Aviation, a developer of electric vertical take-off and landing or eVTOL aircraft, unveiled its autonomous electric two-seater aircraft, named "Maker", marking a milestone towards its commercial launch. The California-based air mobility company, which has already received orders from United Airlines, will use its inaugural aircraft prototype for testing as it works towards certification.
Follow RTT