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Kohl's Climbs On Issue Of Letter To Shareholders To Push Back Activist Investor

Kohl's Corp. (KSS) shares are gaining more than 6 percent on Tuesday morning trade after the company issued a letter to shareholders on Monday detailing its high caliber Board. Further, the company said Macellum's nominees are underqualified to oversee its strategy or run a strategic review process.

Macellum, one of the activist investors, holds five percent of KSS shares and has been trying to take the company private.

Currently, KSS shares are at $61.15, up 6.82 percent from the previous close of $57.24 on a volume of 1,016,479. For the 52-week period, the shares have traded in a range of $43.67-$64.80 on average volume of 4,488,618.

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