FRG - Kohl's: $60 Is Enough Just Get The Deal Done

• I advocate for the time value of money, and that Kohl's Board should accept the Franchise Group's $60/share offer. I also comment on recent news reports.
• Maybe Kohl's could be worth $75, $90, or even $120/share, if management were able to realize its long-term vision for the company.
• But this would take time, likely multiple years, with risks and uncertainties involved. The annualized return would almost definitely be less than what is achievable by accepting the deal.
• With the stock price recently beaten down to <$40, the deal with Franchise Group would allow shareholders to recycle capital in a market downturn.
• If the Kohl's Board is rational and intent on acting in the best interests of shareholders, I believe that they would accept the Franchise Group offer.

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