Kohl's enters into exclusive negotiations with holding company

WISCONSIN (CBS 58) -- Wisconsin-based retailer Kohl's could soon be sold. 

A news release from the company says it has entered exclusive negotiations with a retail holding company. 

Franchise Group is offering to buy Kohl's for $60 a share. That would value the retailer at around $8 billion. 

According to the news release, the transaction remains subject to the approval of both companies' boards of directors. 

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