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Hudson’s Bay Considering Bid for Kohl’s

Acquisition could mean dramatic changes to Kohl’s operations

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Exterior of the Hudson’s Bay department store on Queen Street in Toronto. Credit: Nic Zaraza, iStock

Hudson’s Bay Company (Toronto) is mulling a bid for department store retailer Kohl’s (Menomonee Falls, WI), Axios reports.

Hudson’s Bay, which operates the Canadian department store chain as well as Saks Fifth Avenue stores in the U.S., joins a growing list of suitors for Kohl’s. The latter has rejected multiple acquisition bids since the start of the year, including a $9 billion offer from Acadia Research Group. Kohl’s described the offers it has received to date as having “undervalued” the business.

The Axios report also names private equity firm Sycamore Partners as an interested party.

If Kohl’s were to reach a deal with Hudson’s Bay, “it could be in for dramatic changes to its operations,” Retail Dive says. The Canadian company has recently split its ecommerce and brick-and-mortar businesses, a move that activists investors are pressuring Kohl’s to make.

Read more at Axios.

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