Kohl`s won big fight with activist investors. But there might be new pressure on management to sell the company.

Last week, Kohl’s Corp. avoided having its board taken over by activist investors, with shareholders voting to elect the company`s slate of directors. 

The direction of the company and the future of its roughly 8,000 workers in Wisconsin seem more clear -- for now. But looming in the background is the possibility that the Menomonee Falls-based retailer will be sold to one of many bidders.

With the vote, shareholders chose to allow current management to pursue a strategy of transforming Kohl`s "from a department store to a more focused lifestyle concept,” as CEO Michelle Gass said in March. ..