Macy’s receives $24 per share takeover bid from Arkhouse and Brigade
M
+3.30%
Add to/Remove from Watchlist
Add to Watchlist
Add Position
Position added successfully to:
Please name your holdings portfolio
Type:
BUY
SELL
Date:
Amount:
Price
Point Value:
Leverage:
1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000
Commission:
Create New Watchlist
Create
Create a new holdings portfolio
Add
Create
+ Add another position
Close
NEW YORK – Macy’s Inc. (NYSE: NYSE:M), a major American department store chain, has confirmed the receipt of a revised takeover proposal from investment firms Arkhouse Management Co. LP and Brigade Capital Management, LP. The unsolicited and non-binding offer aims to acquire all outstanding shares of Macy’s for $24.00 per share in cash.
The board of Macy’s is set to carefully evaluate the proposal, keeping in mind its fiduciary responsibilities and the interests of its shareholders. Macy’s board is recognized for exploring various options to enhance shareholder value and maintains an open-minded approach to the best path forward.
At this stage, Macy’s has stated that shareholders need not take any action while the board reviews the proposal. The company will not provide further commentary until the evaluation is complete.
In the backdrop of this acquisition offer, Bank of America Securities and Wells Fargo are serving as financial advisors, with Wachtell, Lipton, Rosen & Katz acting as legal advisor to Macy’s.
This announcement comes amid a broader context where Macy’s has been focusing on growth strategies and managing various business risks, as outlined in their recent filings with the Securities and Exchange Commission. The company has highlighted its reliance on foreign production and the potential impact of trade policies, consumer spending, and other economic factors on its operations.
The details of the takeover bid are based on a press release statement from Macy’s, Inc. Investors and stakeholders are advised to follow the company’s communications for further updates on the proposal and other relevant information.
