Shares of Kohl’s spiked more than 11% Tuesday after the retailer said that it is in advanced talks to be sold in a deal worth about $8 billion.
The Wisconsin chain said late Monday that it was in a three-week exclusive takeover period with the owner of Vitamin Shoppe for $60 per share.
The potential buyer, the Franchise Group Inc., which focuses on franchise companies, will make final financing arrangements and complete due diligence before signing off on the deal during that period.
