Senator Baldwin wants Kohl's to reject acquisitions bids

Senator Tammy Baldwin has called on Kohl's to reject any bids to acquire the retailer that would load it up with debt, spin off assets or increase funds going to shareholders. The Wisconsin Democrat is concerned that such a bid would weaken the company and lead to job layoffs for people employed by Kohl's. “I understand that you are under pressure from various investment funds that have recently purchased large blocks of Kohl’s outstanding shares,” the senator wrote in a letter to the company. “I believe that the demand that ‘their’ capital be returned through stock repurchases is a sleight of hand that only serves to enrich short-term shareholders.”