MILWAUKEE— Based in Wisconsin since the 1920s and a publicly held company, in part, since 1992, the potential ownership of Kohl's Corporation (NYSE: KSS) is in flux as the company confirmed at least two potential takeover offers.

"On the ownership side, it's interesting that the shareholders could benefit from the deal," Kalin Kolev, an assistant professor of management at Marquette University said.

The department store chain, with nearly 1,200 locations, is now the largest department store chain the country. Stock in Kohl's jumped by more than 35% Monday upon news of a potential purchase, closing at $63.71/share.

Monday, the company issued a statement about the current state of affairs, writing, "[Kohl's] today confirmed that it has received letters expressing interest in acquiring the Company. The Kohl’s Board of Directors will determine the course of action that it believes is in the best interests of the Company and its shareholders. Shareholders are not required to take any action at this time. Kohl’s does not intend to further comment publicly on these matters unless it determines it is in the best interests of shareholders to do so.​"

"It's too early to say how this will go," Kolev added. "I don't think there will be any major changes— Kohl's will sell what they sell and customers will approach them the same way. Down the road there might be changes in terms of restructuring. The new ownership group may want to reduce some costs, which automatically means some labor reductions eventually or closing some physical locations that are underperforming..."

You can watch the entire interview with Kalin Kolev above.