Kohl’s Tumbles as Strategic Review Process Ends Without Sale

(Bloomberg) — Kohl’s Corp.’s board took it off the market after failing to agree on a potential $8 billion sale to Franchise Group Inc., sending the department-store operator’s stock to its biggest drop in two years.

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Franchise Group’s most recent offer price and terms reflected “the current financing and retail environment,” and it wasn’t prudent to continue pursuing a deal because of “market volatility,” Kohl’s said in a statement Friday….

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