JCPenney Offers To Buy Rival Kohl’s For $8.6 Billion

The New York Post reports:

The owners of JCPenney have made an offer to acquire archrival Kohl’s in a deal that could value the department-store chain at upwards of $8.6 billion, The Post has learned.

Under the proposal, shopping-mall giant Simon Property and Canada-based Brookfield Asset Management — which together scooped JCPenney out of bankruptcy in December 2020 — have offered to acquired Kohl’s for $68 a share, according to sources close to the talks.

One well-placed source told The Post that the plan is for JCPenney’s corporate parents to continue to maintain two separate brands while streamlining operations and cutting costs.

Read the full article.

JCPenney owners offer to acquire Kohl’s in a deal that could value the department-store chain at upwards of $8.6 billionhttps://t.co/CZeazNhdEO

— philip lewis (@Phil_Lewis_) April 25, 2022