Macy's in discussions with Arkhouse and Brigade for $24/share takeover bid after initial $21/share rejection.
Macy's is in talks with Arkhouse Management and Brigade Capital for due diligence, following an improved takeover bid of $24 per share from the investment firms. Macy's initially rejected the $21-a-share bid, citing a lack of "compelling value." Arkhouse Management and Brigade Capital Management have a combined 4.4% stake in Macy's and have nominated nine director candidates to the company's board, leading to a potential proxy fight.
March 14, 2024
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