Franchise group wants to lower Kohl’s purchase price: Reports

Franchise group wants to lower Kohl’s purchase price: Reports
Franchise group wants to lower Kohl’s purchase price: Reports

With a three-week trading period coming to an end for Kohl’s Corp to consider buying Franchise Group, the Menomonee Falls-based retailer’s price may fall.

CNBC reported Wednesday that “a person familiar with the deal is speaking.” The Franchise Group has proposed lowering its offer to buy Kohl’s from $60 a share to about $50 a share.

Kohl’s shares opened at $41.60 a share on Wednesday, but fell after the report was released to $37.99 a share. In the early afternoon, the shares rose to $38.80.

The Franchise Group, owners of The Vitamin Shoppe and Pet Supplies Plus, and Kohl’s have been talking since June 6 when the two sides announced an exclusive three-week negotiation period.

Although both sides have set a three-week deadline for their talks, they are likely to take much longer.

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