An activist investor is pushing department store chain Kohl’s to either sell the entire company or spin off its e-commerce division. In a letter posted online on Monday, Engine Capital said that it wants the Menomonee Falls, Wisconsin-based retailer to consider these alternatives to boost the stock price. Engine Capital said that if the company chose spinning off its e-commerce division, a move similar to what Saks did earlier this year, the stand-alone business could be valued at $12.4 billion or more. That amount dwarfs the company’s current market capitalization. Kohl says the board and management team “continuously examine all opportunities for maximizing shareholder value."
New York Attorney General Letitia James announced a lawsuit against PepsiCo Inc. on Wednesday, accusing the soda-and-snack food giant of polluting the environment and endangering public health after its single-use plastics were found along the Buffalo River.
Voting on a tentative contract agreement between General Motors and the United Auto Workers union that ended a six-week strike against the company appears too close to call after the latest tallies at several GM factories were announced Wednesday.
