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Kohl's received an initial bid of $60 per share from The Vitamin Shoppe owner valuing the retailer at about $8 billion. However, it later submitted a revised $53 per share offer without definitive financing arrangements to consummate a transaction.
Kohl's confirmed that it is ending talks to sell its business to The Franchise Group and will launch an accelerated share repurchase program to boost its struggling stock price, but shares fell...
The macro environment is making it harder to get loans for large deals.
Kohl’s (NYSE: Kohl’s) announced Friday that it has ended talks with Franchise Group (FRG) to sell its business, stating that the market has been on a down trend since it first began its bidding process.
Investor hopes of a buyout for the struggling retailer were dashed.