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    Home » Investor Group Makes Bid to Acquire Macy’s Inc.
    News

    Investor Group Makes Bid to Acquire Macy’s Inc.

    December 10, 20231 Min Read
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    An investor group consisting of Arkhouse Management and Brigade Capital Management has recently made a bid to purchase Macy’s Inc. for nearly $6 billion, according to the Wall Street Journal. The group is aiming to take the well-known department-store chain private.

    The bid, totaling $5.8 billion, proposes acquiring Macy’s stock that the investors do not already own for $21 per share. This offer represents a significant 32% premium over Friday’s closing price of $17.39.

    The group believes that Macy’s is currently undervalued, as reported by the Journal. Furthermore, they have already discussed their proposal with Macy’s board.

    Arkhouse has chosen not to comment on this matter at this time. Both Brigade and Macy’s have yet to respond to requests for comment.

    In November, Macy’s surprised the market by reporting a profitable third-quarter and improving its outlook. The company experienced improved margins and reduced inventory, thereby boosting confidence in its performance.

    Although Macy’s shares have seen a significant surge of over 50% in the past month, they still remain down approximately 16% year to date. The stock’s peak came in 2015 when it reached around $70 per share.

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