- Hudson's Bay, the owner of American luxury department store chain Saks Fifth Avenue, is planning a bid for the department store chain Kohl's Corp (NYSE:KSS), Reuters reported.
- Related: Kohl's Dismisses Takeover Offers: What Investors Need To Know
- In another development, Engine Capital LP issued a letter to the board of Kohl's, urging the sale of the company.
- Engine Capital stated it is disappointed with the financial guidance presented at the company's recent analyst day.
- Engine Capital urged that the best offer, whether $65 per share or hopefully higher, should be negotiated and put in front of shareholders for a vote.
- Price Action: KSS shares are trading higher by 6.69% at $57.42 on the last check Wednesday.
