WISCONSIN (WFRV) – Kohl’s Corporation announced on Monday that its Board of Directors has entered into exclusive negotiations with Franchise Group Inc., a holding company that features a collection of market-leading and emerging brands.

The negotiations are expected to run for three weeks in relation to the Franchise Group’s proposal to acquire Kohl’s for $60.00 per share.

The Franchise Group Inc. currently owns several different brands such as The Vitamin Shoppe, Pet Supplies Plus, and American Freight.

According to a release, the exclusive negotiation period is to allow the Franchise Group and its financing partners to finalize due diligence and financing arrangements alongside both parties to complete the negotiation of binding documentation.

Kohl’s also states that there are no assurances that any agreement will be reached or that a transaction will be agreed upon/completed on the terms set forth.

To view the entire release sent out by Kohl’s Corporation, click here.