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Benzinga

Business

Shivani Kumaresan

Franchise Group To Avail Loan From Apollo For Kohl's Buyout: New York Post

Kohl Apollo (Organization) Franchise Group New York Post NYSE Company Franchise Group Inc Nasdaq

Franchise Group Inc (NASDAQ:FRG) is considering taking more than $2 billion in loan from Apollo Global Management, Inc. (NYSE:APO) to acquire Kohl’s Corp (NYSE:KSS), New York Post reported.
Kohl’s board recently confirmed negotiations with Franchise Group over a $60 per share bid.
The report noted Apollo is considering lending money to fund the buyout at less than three times Kohl’s EBITDA.
Price Action: FRG shares are trading higher by 8.09% at $43.70 on the last check Thursday.
Photo Via Company

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