Kohl’s negotiates with operator of Vitamin Shoppe about potential sale

The exterior of a Kohl's store.

Kohl’s Corp. stated Monday night that it has entered into negotiations that could outcome in a sale of the corporation.

In a news launch posted on its web site, Kohl’s, centered in Menomonee Falls, reported that it “has entered into unique negotiations with Franchise Team, Inc.,  … for a interval of 3 weeks in relation to (Franchise Group’s) proposal to acquire Kohl’s for $60 a share.”

That obtain value values Kohl’s at about $8 billion.

Kohl’s shares soared 13.5{194d821e0dc8d10be69d2d4a52551aeafc2dee4011c6c9faa8f16ae7103581f6}, or practically $6, in right after-hrs current market buying and selling after the announcement, which was posted to Kohl’s internet site at 6:37 p.m. Monday. Shares closed Tuesday at $45.59, up 9.5{194d821e0dc8d10be69d2d4a52551aeafc2dee4011c6c9faa8f16ae7103581f6} in hefty trading.

Franchise Group is a keeping company for a assortment of retail manufacturers together with Pet Supplies In addition and The Vitamin Shoppe.