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Kohl’s ups cash tender offer
Menomonee Falls, Wis. - Kohl’s Corp. has increased the maximum amount of a previously announced cash tender offer for several debt notes coming due between 2017 and 2033 from $60 million to about $737.04 million. The new tender offer is subject to the same terms and conditions made in an original offer to purchase dated June 29, 2015.
Settlement of notes that have been tendered and accepted for purchase by Kohl’s is expected to take place July 17, 2015. The tender offer expires July 27, 2015.
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A new chapter begins for book retailer
With Amazon.com’s share price approaching $500 on the heels of a highly publicized 20th anniversary promotional event, the struggling Books-A-Million chain announced a deal to go private for a paltry sum.
The Books-A-Million chain was always a distant competitor to the likes of Barnes & Noble and even the now defunct Borders chain. Then along came Amazon.com and Books-A-Million grew more irrelevant. As its sales and profits declined so did its growth prospects in the eyes of investors and its stock price.
