Reported 12 months ago
Arkhouse Management and Brigade Capital Management have increased their buyout offer for Macy's to approximately $6.9 billion, as reported by the Wall Street Journal. The new proposal aims to acquire Macy's remaining stock at $24.80 per share, up from the initial $24 per share offer in March. Arkhouse, holding a 4.4% stake in Macy's, had previously raised the offer price to $24 per share from $21. The bid represents a nearly 43% premium to Macy's closing price on Dec. 8 when the deal talks first began, with the retailer having engaged with Arkhouse and Brigade Capital over their revised takeover offer.
Source: YAHOO