(Reuters) – Kohl’s Corp said on Monday it has entered exclusive negotiations with Franchise Group Inc over a potential sale of the department store operator at $60 per share.
“The purpose of the exclusive period is to allow FRG and its financing partners to finalize due diligence and financing arrangements and for the parties to complete the negotiation of binding documentation,” Kohl’s said in a statement.
(Reporting by Ann Maria Shibu in Bengaluru; Editing by Sherry Jacob-Phillips)
