Investor Group Launches $5.8 Billion Buyout Bid for Macy’s
An investor group has made a $5.8 billion offer to buy Macy’s, in a bid to take the famed department-store chain private after stiff competition from online rivals took a big bite out of its value.Arkhouse Management, a real-estate focused investing firm, and Brigade Capital Management, a global asset manager, on Dec. 1 submitted a proposal to acquire the Macy’s stock they don’t already own for $21 a share, people familiar with the matter said.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8