MENOMONEE FALLS — According to our partners at the Milwaukee Business Journal, Kohl's has received an unsolicited $9 billion takeover bid.
The offer came from a group backed by hedge fund Starboard Value LP.
Kohl's has not released a statement about the bid or responded to requests for comment. The business journal also reported there's no guarantee that Starboard will get financing for the deal, or that Kohl's will accept the offer.
A recent letter to Kohl's shareholders from an activist investor said the company has been approached by other investors as well, who they called "credible buyers." The investor said those offers were rebuffed, according to the Milwaukee Business Journal.