Marketing

JCPenney owner makes a play for Kohl’s

Photo by istock.com

April 27, 2022

Simon Property Group, owner of JCPenney, is making a play to buy competitor retailer Kohl's in what one report claims could be a $8.6 billion deal.

The mall giant and Brookfield Asset Management are reportedly seeking to buy Kohl's for $68 a share, according to a New York Post report citing sources familiar with acquisition talks.

If successful the bidders aim to cut $1 billion in costs at Kohl's over a three-year period and plans for Sephora concession stands within Kohl's would be cancelled.