Multiple preliminary buyout offers have been received by Kohl's.

• On Monday, Kohl's confirmed that it has received several preliminary offers from potential buyers interested in purchasing the department store chain.
• Kohl's stated in a press release that the proposals are not binding and do not have secured funding.
• Goldman Sachs bankers have been appointed by the company's board of directors to liaise with potential suitors.

The department store chain has received multiple preliminary offers from interested parties on Monday.

Kohl's stated in a press release that the proposals are nonbinding and do not have committed financing. The company's board of directors has hired bankers at Goldman Sachs to coordinate with bidders.

One of the bidders in the talks to acquire Kohl's is Hudson's Bay Co., owned by HBC. Additionally, private equity firm Sycamore is considering making an offer, which would value the company at over $9 billion. As of Monday, Kohl's market value was approximately $8.1 billion.

HBC and Sycamore spokespeople did not respond to requests for comment, while Kohl's declined to comment on interested parties.

Kohl's has since forged ahead with its own initiatives to boost profits and win new customers after Starboard-backed Acacia Research's offer of $64 per share was deemed too low. Earlier this month, Kohl's issued fresh long-term financial targets for its business, including growing sales by a low single-digit percentage annually.

Earlier this year, activists, including hedge fund Macellum Advisors, put pressure on Kohl's to consider selling itself due to its lagging share price compared to other big-box retailers. The firms believed that Kohl's could maximize its value by leveraging its real estate.

Last month, Macellum, owning about 5% of Kohl's stock, attempted to seize control of the board by proposing 10 new directors.

Kohl's sent a letter to its shareholders on Monday, expressing concern over Macellum's actions and urging them to vote for all of its board nominees before the annual meeting on May 11.

The stock has experienced a 26% increase in value year to date, ending Friday at $62.43.