FRG - Kohl's stock spikes as Franchise Group said to still eye $60 per share purchase price

Kohl’s (NYSE:KSS) could still fetch a $60 per share from the Franchise Group (FRG), according to the New York Post. A new report from the paper states that Franchise Group (FRG +1.6%) CEO Brian Kahn is keen on keeping the elevated price despite the stock’s recent selloff. The item cited “ source with direct knowledge of the situation.” The Vitamin Shoppe parent had previously entered into exclusive talks to purchase the department store chain with the assistance of a $2B loan from Apollo Global Management (APO) in early June. The Kohl's (KSS +4.3%) later acknowledged on June 6 that talks would continue for a period of three weeks.  Yet, as talks have already dragged on for half that expected period with shares declining further below the $60 proposed purchase price, skepticism has built about the prospects of the deal closing. According to the Post, Kahn is seeking to extend past

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Kohl’s stock spikes as Franchise Group said to still eye $60 per share purchase price