Kohl's rejected a $9 billion takeover bid by an activist group and adopted a poison pill to deter such investors, but said it would review other offers
for being too low, but said it would review other expressions of interest in the department-store chain.
The company also adopted a shareholder-rights plan, also known as a poison pill, that makes it difficult for an activist group to acquire more than 10% of the company. Kohl’s said the plan, which will be in effect for a year, will allow the board to conduct an orderly review of potential offers.
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