Reported about 1 year ago
An investor group, including Arkhouse Management and Brigade Capital Management, has increased their buyout offer for Macy's to $24.80 per share, valuing the company at $6.9 billion. Macy's, facing declining sales and market share, is considering the proposal after rejecting previous offers. The potential buyout could provide Macy's with the flexibility needed to enact its turnaround plan amid challenges in the department store industry. The decision will be closely monitored by the retail sector.
Source: YAHOO