The owners of JCPenney have made an offer to buy rival Kohl’s in a deal that could value the department store chain at upwards of $8.6 billion, The New York Post reported. Under the proposal, Simon Property and Brookfield Asset Management, which bought JCPenney out of bankruptcy in 2020, have offered to acquire Kohl’s for $68 a share. Sycamore Partners, Leonard Green & Partners and Canada’s Hudson’s Bay are reportedly also interested in acquiring Kohl’s.
Source: NY Post
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