Kohl’s begins negotiations for potential sale

Menomonee Falls-based Kohl’s Corp. has entered into negotiation with Franchise Group Inc. for the sale of the company, according to a report from the Milwaukee Journal Sentinel. The exclusive negotiations are in response to a proposal from Franchise Group to acquire Kohl’s for $60 per share, valuing the company at about $8 billion. Franchise Group is a holding company for a collection of retail brands including Pet Supplies Plus, The Vitamin Shoppe, American Freight, Badcock Home Furniture & more, Buddy’s Home Furnishings, and Sylvan Learning. If the deal closes as proposed, Kohl’s shareholders would receive $60 cash for each of their shares. The price is a nearly 43% premium to Kohl’s closing stock price of $42.12 during regular stock trading on Monday.