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.
Source: CNBC
Omni Talk is the retail blog for retailers, written by retailers. Chris Walton and Anne Mezzenga founded Omni Talk in 2017 and have quickly turned it into one of the fastest growing blogs in retail. 