Penny for your Kohl?

Penny for your Kohl?

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Penny for your thoughts, especially if you're shareholders of Kohl (KSS). Reports from The New York Times are breaking that JCPenney is looking to close an acquisition deal for Kohl’s that values the retail rival at an estimated $8.6b. Simon Property Group (SPG) and Brookfield Asset Management, two of the biggest mall owners in the US, bought JCPenney out of bankruptcy in 2020. The proposal would see both firms pick up Kohl’s shares. If the sale is complete, the new business would ditch plans to roll out Sephora concession stands inside Kohl’s locations.

Kohls has come under recent fire from activist investors to look for a sale and has engaged with Goldman Sachs (GS) to pursue a deal.

Why it matters

The prospective new owners would keep the two brands separate while cutting Kohl's costs by $1b, The Post reported. 

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