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Kohl’s Said to Get $9 Billion Bid Backed by Investor Starboard

Start Magazine

(Bloomberg) -- A group backed by activist hedge fund Starboard Value LP is offering about $9 billion for retailer Kohl’s Corp., according to people familiar with the matter. The offer for Kohl’s from parties led by Acacia Research Corp. is $64 per share in cash, according to two people familiar with the matter, who asked not to be identified because the information was private. That’s a 37% premium to the department store chain’s closing price of $46.84 on Friday...

Mentions: Hedge Fund acquisition stake