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Kohl’s shares soar after report says Hudson’s Bay is contemplating buyout bid

The Kohl’s brand is displayed on the outside of a Kohl’s retailer on January 24, 2022 in San Rafael, California.

Justin Sullivan | Getty Photos

Kohl’s shares jumped greater than 5% Wednesday morning after a report stated that one other division retailer chain is mulling a buyout of the retailer.

The Canadian division retailer chain Hudson’s Bay is contemplating a bid, stated Axios, which based mostly its reporting on conversations with a number of sources.

Personal fairness agency Sycamore Companions can also be contemplating a bid for Kohl’s, Axios stated. Although it is unclear whether or not or not Sycamore is critical, in line with the report.

Representatives from Kohl’s, Hudson’s Bay and Sycamore did not instantly reply to CNBC’s request for remark.

The rumors of potential suitors come as Kohl’s has already stated a proposal from Starboard-backed Acacia Analysis, of $64 per share, was too low. Kohl’s shares opened Wednesday at $54.46. The inventory is up about 14% this 12 months.

This story is creating. Please verify again for updates.

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