KOHL’S STOCK JUMPS ON SPECULATION ABOUT GOING PRIVATE
The stock of Wisconsin-based department store chain Kohl’s has jumped approximately 5 percent today after The Wall Street Journal printed a story that said the company’s directors are debating whether to hire an investment bank to explore alternatives that could include sale to a private equity firm. The newspaper noted that the discussions are in the preliminary stage and there was no official comment from the company.
The stock opened the day at 49.29 and traded as high as 50.75 at one point early this afternoon. The company has been on a roller-coaster in the market over the past year, soaring as high as 79.60 and plummeting to 41.60.
One of the nation’s largest retailers, Kohl’s currently operates more than 1,100 stores throughout the United States.
