SPG - Kohl's main bidders said to be on sidelines due to financing concerns - report (update)

Update 11:30am: Adds updated details from Women's Wear Daily article.  Kohl's (NYSE:KSS) main potential bidders are said to be on the sidelines because they are having trouble getting financing for a deal, according to a CNBC report.  A deal can't get financing in the $60s/share, according to CNBC's Sara Eisen, citing a person close to the process. The lenders are said to not have confidence in Kohl's numbers after company reported its Q1 results on Thursday. Nobody has walked away from the process at this point, though the prominent retailer bidders are on a hold at this time, according to Eisen. Kohl's (KSS) shares plunged 13%. The CNBC report comes after the NY Post reported late Thursday that the department store chain's Q1 results may dissuade potential suitors from making offers. One source familiar with sales process told the NY Post that they were "shocked" by Kohl's results and the person didn't believe any acceptable bids would

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Kohl's main bidders said to be on sidelines due to financing concerns - report (update)