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Acacia Research-Led Group Offers $64/Share Cash for Kohl’s: DJ

A Kohl's Corp. department store in Lexington, Kentucky, U.S.

A Kohl's Corp. department store in Lexington, Kentucky, U.S.

Photographer: Luke Sharrett/Bloomberg

A group led by Acacia Research Corp., which is controlled by activist hedge fund Starboard Value LP, has offered to buy Kohl’s Corp. for $64 a share in cash, Dow Jones reports, citing unidentified people familiar with the matter.

The bid, which amounts to roughly $9 billion, is a 37% premium to the department store chain’s closing price of $46.84 on Friday.