Arkhouse and Brigade increase offer to buy Macy's to $6
Arkhouse and Brigade increase offer to buy Macy's to $6

Arkhouse and Brigade increase offer to buy Macy’s to $6

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Arkhouse Management and Brigade Capital Management have increased their offer for Macy’s after the department store chain rejected their previous proposal. The new offer values Macy’s at $6.6 billion, representing a premium of about 33% to its last close. The companies are now offering to acquire Macy’s stock they don’t already own for $24 per share, up from their previous offer of $21 per share. Macy’s board will review the latest proposal. Arkhouse Management has also nominated nine director candidates to Macy’s board. Like other department store operators, Macy’s has faced challenges from online competitors, prompting pressure from Arkhouse and Brigade to explore a sale. Stay updated on the latest financial news and market data by signing up for free newsletters. © 2024 CNBC LLC. All Rights Reserved.

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