Macy’s has announced that, following over seven months of engagement with Arkhouse and Brigade Capital, its board has decided to terminate discussions that failed to lead to an actionable proposal with certainty of financing at a compelling value. The company’s management team will return its full focus on enhancing shareholder value through the...
16 Jul 2024
Macy’s has appointed two new independent directors, Richard (Ric) Clark and Richard (Rick) L. Markee, to its board. The appointments follow the board’s engagement with Arkhouse Management, resulting in the withdrawal of its director nominations. Macy’s said in a statement that Tony Spring, chief executive officer and chairman-elect of the...
11 Apr 2024
US department store retailer Macy’s has confirmed that Arkhouse Management and Brigade Capital Management have issued a revised proposal to acquire the company’s outstanding shares for 24 dollars per share. The total would now amount to 6.6 billion dollars in cash, raising the offer by about 14 percent more than the duo’s initial 21 dollars per...
4 Mar 2024
Macy’s has rejected a 5.8 billion dollars takeover bid from investors Arkhouse Management and its partner Brigade Capital Management, citing concerns over financing. “Following careful consideration and efforts to gather additional information from Arkhouse and Brigade, the board determined that Arkhouse and Brigade’s proposal is not actionable...
22 Jan 2024
Shares of US department store Macy's jumped almost 18 percent in early Monday trading following news that an investor group has offered a 5.8 billion dollars buyout deal. According to Wall Street Journal, Arkhouse Management, which focuses on real estate investments, and global asset manager Brigade Capital Management have jointly made the offer...
12 Dec 2023