A bitter campaign and a subsequent dose of poison, Kohl’s became the winner of a proxy battle against an activist investor. But that was just the beginning for the department store chain.
On Wednesday, Kohl shareholders rejected an offer by activist investor Macellum Advisors to replace up to 10 directors. Macellum continued to push for changes to Kohl’s starting in January, including the sales process, which Kohl’s later hired Goldman Sachs to run. The department store chain has said on its website that it has engaged with more than 20 interested parties.
https://www.wsj.com/articles/kohls-proxy-fight-victory-is-only-the-beginning-11652290457?mod=rss_markets_main Kohl’s Proxy Fight Victory Is Only the Beginning