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Franchise Group To Avail Loan From Apollo For Kohl's Buyout: New York Post

Benzinga · 06/09/2022 14:32
  • Franchise Group Inc (NASDAQ:FRG) is considering taking more than $2 billion in loan from Apollo Global Management, Inc.  (NYSE:APO) to acquire Kohl’s Corp (NYSE:KSS), New York Post reported.
  • Kohl’s board recently confirmed negotiations with Franchise Group over a $60 per share bid.
  • The report noted Apollo is considering lending money to fund the buyout at less than three times Kohl’s EBITDA.
  • Price Action: FRG shares are trading higher by 8.09% at $43.70 on the last check Thursday.
  • Photo Via Company