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Kohl’s: Buyout offers undermine value of business

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Kohl’s says that recent offers to purchase the department store chain undervalue its business and said it’s adopting a shareholder rights plan to head off any hostile takeovers.

People walk by a Kohl's department store in Clifton, New Jersey, on Thursday, January 27, 2022.

“We have a high degree of confidence in Kohl’s transformational strategy, and we expect that its continued execution will result in significant value creation,” said Kohl’s Chairman Frank Sica in a statement. “The board is committed to acting in the best interest of shareholders and will continue to closely evaluate any opportunities to create value.”

At the time Kohl’s Corp., based in Menomonee Falls, Wisconsin, said that its board was reviewing the offers.

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