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Retailer Kohl’s braces for bidders to lower offers: Reuters

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Bidders competing for Kohl’s are preparing to make binding offers that are lower than the indicative bids they submitted earlier this year to reflect the market downturn and the US retailer’s deteriorating business, Reuters reported. The bidders, which include Sycamore Partners, Franchise Group, and JC Penney investors Simon Property Group and Brookfield Asset Management, plan to lower their offers by at least 10 percent to 15 percent.

Source: Reuters