Kohl’s Corp. has taken down the “for sale” sign.
Citing “market volatility,” the department store retailer said it has ended its strategic review process and will no longer consider selling itself to Franchise Group, whose holdings include The Vitamin Shoppe and Pet Supplies Plus.
In a statement, Kohl’s said it had engaged with 25 companies, with Franchise Group emerging as the top bidder. In early June, Franchise Group proposed a bid of $60 per share to acquire the retailer, which valued the business at approximately $8 billion.
Source: Chain Store Age
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