Kohl’s Shares Jump 17% After Reports say Hudson’s Bay, Sycamore are Preparing Bids

Kohl’s shares jumped 17% Wednesday after reports said that another department store chain is mulling a buyout of the retailer.

The Canadian department store chain Hudson’s Bay is considering a bid, said Axios, which based its reporting on conversations with multiple sources.

Private equity firm Sycamore Partners is also considering a bid for Kohl’s, Axios said. Though it’s unclear whether or not Sycamore is serious, according to the report.

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Source: CNBC