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12/11/2023, 1:00 AM (Source: TeleTrader)
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Macy's-1.13%

19.26
Chart for: Macy's Inc

Investor group launches $5.8B buyout bid for Macy’s

An investor group consisting of Arkhouse Management and Brigade Capital Management submitted an offer to buy the department store chain Macy's, the Wall Street Journal reported on Monday.

The group offered to buy stock at $21 a share. Arkhouse, an investment firm focused on real estate, and Brigade, a global asset manager, proposed the offer to Macy's, whose board met in order to consider the offer.

The investment group already obtained a large stake in Macy's through Arkhouse-managed funds before this offer. The offer was followed by a supporting letter from an investment bank supporting the group's ability to raise the necessary funds.

Baha Breaking News (BBN) / KA