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Benzinga
Benzinga
Business
Adam Eckert

Why Kohl's Stock Is Moving Higher Today

Kohl Group Franchise Group KSS NYSE

Kohl's Corp (NYSE:KSS) shares are trading higher Tuesday after the company's board announced it has entered into exclusive negotiations with Franchise Group in relation to the Group's proposal to acquire Kohl's for $60 per share.

The purpose of the exclusive period is to allow the Franchise Group to finalize its due diligence and financing arrangements and for the companies to complete the negotiation of binding documentation. The exclusive negotiations are set to last for a period of three weeks.

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