According to reports from various media outlets over the weekend, Kohls (Kohls), which has the second highest retail sales volume of department stores in the US, is facing acquisition intentions from a number of private equity firms, which is close to 40% of the premium level of last Friday's closing price.
　　According to a list released by the National Retail Federation (NRF) last year, Cole's was also among the top 30 retailers in the world in 2020, with global sales reaching 15.3 billion US dollars in that year.
　　Is the takeover war imminent?
　　According to reports, a consortium led by Acacia Research offered Cole's shareholders a purchase offer of $64 per share, a 37% premium over the company's closing price last Friday. Behind Acacia's research is Starboard Value, a well-known hedge fund. Although Acacia's market capitalization is only 200 million US dollars, the consortium has told Cole that it has obtained guarantees from financial institutions and can provide debt financing solutions.
　　Naturally, this is also the biggest deal Acacia has ever made. Prior to Starboard's investment in the company in 2019, Acacia was mainly a patent holding company and is now also transitioning to acquisitions and enhancing the company's performance. Last October, the company spent $33 million to acquire industrial printer manufacturer Printronix.
　　However, Acacia is clearly not the only PE that is interested in Cole's department stores. Also at the end of this week, New York-based private equity firm Sycamore is rumored to have offered Cole a purchase of $65 per share...