Investor Bid To Buy Kohl’s Rejected
A bid by activist investors to take over Kohl’s department stores has come up short.
Shareholders Wednesday rejected all ten of the investor group’s candidates for the board of directors. Instead, they voted to keep all the board members chosen by the company’s directors.
It was the latest attempt to buy or change Kohls. The activist investors have pushed for months to try to change how the Wisconsin-based company operates.
There are other offers to buy Kohl’s, and company leaders say they are under review.