Kohl's gains amid board and M&A intrigue (update)
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Update 9am: Updates to add detail about Kohl's jet reportedly in Seattle.
Macellum Advisors announced on Thursday morning that it nominated a slate of ten independent candidates for election to the Kohl's Corporation (NYSE:KSS) board of directors.

The activist firm says it is convinced that a majority of the Kohl's board needs to be refreshed after it hastily rejected at least two potential acquirers.
"The fact that the Board simultaneously adopted what appears to be an onerous, two-tiered poison pill indicates to us it is also no longer prioritizing shareholdersâ interests. In our view, any directors that support such patently anti-shareholder maneuvers cannot be trusted to credibly evaluate potentially value-maximizing alternatives versus managementâs perpetually ineffective plans."
Macellum also highlighted recent reports that the Kohl's corporate jet was reportedly in Seattle, Amazon's (NASDAQ:AMZN) headquarters.
"With reports now swirling about the Companyâs jet recently flying to Seattle, Washington, where Amazon is headquartered, we hope the incumbents are not losing sight of their fiduciary duties," Macellum wrote.
Kohl's Corp. (KSS) rose 1.55% in premarket trading on a report that private equity firm Leonard Green is interested in bidding for the department store chain.