Add two high-profile players to the lineup of parties reportedly interested in Kohl’s Co.
Simon Property and Brookfield are said to have expressed in putting together a potential bid for the department store chain, according to CNBC’s David Faber (as reported by Seeking Alpha). (The two mall owners teamed up to buy the retail and operating assets of J.C. Penney in late 2020.) The list of companies reportedly bidding for Kohl’s also includes Hudson’s Bay, Sycamore Partners, Acacia Research, Starboard Value and Franchise Group.
On Thursday, Kohl’s revealed in an investor presentation that Goldman Sachs, which it has hired to explore strategic alternatives, has engaged with more than 25 parties and that “select bidders have been invited to a data room containing over 550,000 pages across over 55,000 documents, as well as meetings with management.”Chain Store Age