Arkhouse and Brigade up Macy’s Takeover Offer to $6.6 Billion Following Rejection of Previous Deal

Published on March 4, 2024

NEW YORK—Arkhouse Management and Brigade Capital Management are upping their offer to acquire Macy’s in a deal now valued at $6.6 billion. The investment firms announced Sunday that they had submitted an all-cash proposal of $24 for each of the remaining shares in Macy’s they don’t already own—up from an earlier offer of $21 per share. Macy’s rejected the previous deal, which was valued at $5.8 billion, in January. At the time, the retailer said that its board reviewed the investment firms’ proposal and not only had concerns about the financing plan, but also felt there was a “lack of compelling value.”...

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