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Activist investors now push for minority representation on Kohl's board

Activist investors have slightly shifted their strategy to take over the board at Kohl’s Corp., reducing their director nominations from nine to five candidates. The group, which includes Macellum Advisors GP LLC, Ancora Holdings Inc., Legion Partners Asset Management LLC and 4010 Capital LLC and collectively owns 9.5% of the retailer’s outstanding stock, publicly launched a campaign last month to overhaul Kohl’s 12-person board in an effort to improve financial performance. Kohl’s con...
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