Kohl’s may soon have a new owner.
Kohl’s (KSS) said late Monday that it had entered into a three-week exclusive negotiation period for a potential sale with Franchise Group (FRG), a holding company which owns The Vitamin Shoppe and other retail brands.
Franchise Group has proposed to buy Kohl’s for $60 a share. Kohl’s stock closed at $42.12 on Monday and rose 10% during early trading Tuesday on the news. The deal would value Kohl’s at around $8 billion, The Wall Street Journal reported, about 5 times more than it was worth last week.
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