This decision from Kohl’s comes as its stock price slumps and its sales decline.
at a roughly $8 billion valuation. The two companies then entered an exclusive three-week window during which they can firm up any due diligence and final financing arrangements. That ran its course this past weekend.
Kohl's shares closed Thursday at $35.69. At one point during the day the stock touched a 52-week low of $34.33. Kohl's ended the day with a market valuation of roughly $4.6 billion, its shares down about 28% so far this year.but it deemed the bid to be too lowActivist firm Macellum Advisors has been pushing for Kohl's to consider a sale or consider other strategic alternatives
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