In a recent development, the Kohl’s group said that it has entered into a three-week exclusive negotiation period for a possible sale with Franchise Group (FRG).

FRG is a holding company that owns The Vitamin Shoppe and other retail brands. It has proposed to purchase Kohl’s for $60 a share. This deal will take Kohl’s valuation to $8 billion. According to the WSJ, it is five times bigger than what it was worth last week.

The talks of a potential sale of Kohl’s rose its stock price to $42.12 a share on Monday by the end of the day. During the early trading hours on Tuesday, it gained nearly 10%. However, Kohl’s also said that during the negotiation talks there were no assurances that a deal would be achieved.