Kohl’s Stock Surges On Exclusive Sale Talks With Franchise Group

Kohl’s Corp.  (KSS) – Get Kohl’s Company Report shares surged bigger Tuesday after the struggling retailer said it can be in special talks with the Franchise Group  (FRG) – Get Franchise Team Inc. Report over a achievable $8 billion takeover.

Franchise Group explained it’s prepared to pay back $60 a share for Kohl’s, and has entered a three-week unique dialogue window that Kohl’s explained would enable it to “FRG and its funding companions to finalize because of diligence and funding preparations and for the functions to finish the negotiation of binding documentation.”