The drawn-out bidding process for Kohl’s doesn’t appear to be coming to an end any time soon.
It could take several weeks, if not longer, for a deal to come together, a person familiar with the situation told CNBC. The dialogue has been particularly lengthy because of the difficulty in securing financing in uncertain market conditions, the person said, adding that a likely per-share deal price at this point would be in the mid-$50s.
Kohl’s shares closed slightly up at $41.48 Friday afternoon, giving the company a market value of roughly $5.33 billion. The stock had traded as low as $34.64 as recently as May 24.CNBC