A group led by Acacia Research Corp., which activist hedge fund Starboard Value LP controls, offered to buy Kohl's Corp. (KSS) ?for $64 per share or about $9 billion in cash, the Wall Street Journal reported citing people familiar with the matter.
The consortium reportedly told the department-store chain it has received assurances from bankers that it would be able to get financing for the bid.
On Tuesday, Macellum Advisors GP, which holds nearly 5% of the outstanding common shares of Kohl's, said that the Board of Kohl's appears unwilling to address the drivers of long-term underperformance. If the Board is unwilling to pursue improvements, it should explore strategic alternatives.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.