() – U.S. private retailer Sycamore Partners has applied to Kohl’s Corp, a chain of department stores, for a potential acquisition, News Sunday reported, citing people familiar with the matter.
It is unknown how much Sycamore is willing to pay for the company, he said.
The potential acquisition comes as Kohl struggled last week with an offer from Acacia Research Corp., backed by the investment firm Starboard Value.
Kohl also said that under pressure from activists hedge fund Macellum Advisors GP, he called on the company to explore strategic options, including sales, and said it plans to nominate candidates for the board of directors.
Sycamore declined to comment. Kohl did not immediately respond to a request for comment.
Jaiveer Singh Shekhawat’s interview in Bangalore; Additional report by Bhargav Acharya; Edited by Andrea Ricci