Kohl’s braces for bidders revising down offers

Reuters exclusively reported that bidders competing to acquire Kohl’s are preparing to make binding offers that are up to 15% lower than the indicative bids they submitted earlier this year to reflect the market downturn and the U.S. retailer’s deteriorating business. The bidders include private equity firm Sycamore Partners, brand holding firm Franchise Group and J.C. Penney investors Simon Property Group and Brookfield Asset Management.