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A source reportedly toldthat through the acquisition, operations will be streamlined for both Kohl's and JCPenney, and costs will be cut by nearly $1 billion over the next three years.However, the source said that the new"corporate parents" will maintain the two separate brands, and Simon and Brookfield will employ a single management team to operate both JCPenney and Kohl's at the start of the merger.
, Reuters reported, accusing the board of"putting its thumb on the scale to keep Kohl's mired in operational mediocrity."in February, Kohl's had hired PJT Partners and Goldman Sachs"to field any further interest" about the sale, after for coming in too low. In March 2022, Kohl's said that Goldman had been in talks with over 20 prospective buyers, Reuters reported.
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