The battle for Kohl's is heating up
CNN
Kohl's is pushing back against intense pressure from Wall Street to make changes or sell the company.
The retailer sent a sharply worded letter to shareholders Thursday ahead of the its annual meeting in May, urging them to reject an activist investor's efforts to gain control of the company and install its own board of directors.
Hedge fund Macellum has criticized Kohl's in recent months, arguing the chain has underperformed competitors and lacks a compelling strategy. It wants Kohl's to consider selling its real estate assets, spin off its e-commerce business or find a buyer for the whole company.
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