Kohl’s Gets $9 Billion Bid From Starboard Value Group - The Wall Street Journal
A consortium backed by activist hedge fund Starboard Value LP has offered roughly $9 billion to buy department store Kohl’s Corp.
, according to people familiar with the matter.
A group led by Acacia Research Corp., which Starboard controls, offered to buy the department-store chain for $64 a share in cash Friday, the people said.It told the company it has received assurances from bankers that it would be able to get financing for the bid, the people said.