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Longacre Square Partners is handling media for Macellum Advisors GP's run at Kohl's retail chain, a company it claims is in need of necessary operational, financial and strategic improvements. Edelman works for Kohl's.
Shares of Kohl's are trading at $47.68. They have traded in a 52-week range of $64.89 to $42.68.
Macellum, an activist trading fund, believes Kohl's, which has real estate assets valued at $7B to $8B, would trade at up to $100 per share with an optimized balance sheet and improved execution.
It threatens to nominate a slate of directors at the 2022 annual meeting unless the retailer decides to collaborate with Macellum and implements changes to improve its performance.
Kohl's on Jan. 18 said its strategy is producing results. The company reported a 15.6 percent jump in Q3 (ended October) revenues to $4.6B. Net income was $243M, compared to a year ago $12M loss.
The Menomonee Falls, WI-based retailer notes that it refreshed its board last April with three independent directors as part of a settlement with an investor group that included Macellum.
It plans to announce a new financial framework and capital allocation strategy on its annual investor day scheduled for March 7.
Longacre's Greg Marose, Casie Connolly and Bela Kirpalani represent Macellum.
Edelman's Lex Suvanto handles Kohl's.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
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