Arkhouse and Brigade raise Macy's buyout offer to $24.80/share, prompting board to consider privatization.
Arkhouse Management Co. and Brigade Capital Management raised their $6.9bn buyout offer for Macy's to $24.80 per share, increasing from $24 and $21 offers in March and December respectively. The new bid will force Macy's board to consider if privatization would aid the ongoing retail turnaround. The increase comes amidst private equity interest in acquiring major retail companies amid e-commerce industry changes.
July 03, 2024
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