Kohl's Receives $9B Buyout Offer From Franchise Group: Reuters

Kohl’s Corp KSS has received a $9 billion buyout offer from Franchise Group Inc FRG, Reuters reported.
The report specified that the franchise Group plans to pay $69 per share of Kohl’s.
Kohl’s, under pressure from activist hedge funds regarding a sale, will now have more options with Franchise’s entry.
The report also noted Hudson's Bay Company is planning to offer $70 per Kohl’s share.
Kohl’s has also received an offer from the private equity firm Sycamore Partners.
Price Action: KSS shares are trading higher by 6.52% at $60.97 on the last check Tuesday.