Kohl’s stock jumped 32% by noon Monday after the pressured retailer confirmed receipt of at least two takeover bids following a weekend of media speculation. Financial outlets, led by Wall Street Journal, reported that private equity firm Sycamore offered at least $65 per share – 39% above Friday’s close of $46.84 – two days after a bid from Acacia Research, backed by activist investment firm Starboard Value, at $64 per share. CNBC reported Acacia’s offer included selling off Kohl’s real estate portfolio, a move at the center of recent activist investor pressure and one that the company has resisted.

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