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Why Kohl's Stock Jumped 36% Today

TheMotleyFool

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Shares of Kohl's (NYSE: KSS) soared 36% on Monday after the department store chain confirmed that it has received interest from potential acquirers.

Kohl's statement came after The Wall Street Journal reported on Friday that a group backed by activist hedge fund Starboard Value offered to buy the retailer for approximately $9 billion, or $64 a share, in cash.

Additionally, Bloomberg reported on Sunday that private equity firm Sycamore Partners also inquired about a possible acquisition of Kohl's. And on Monday, CNBC said Sycamore Partners offered to buy the chain for at least $65 per share.

Source Fool.com

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