?️ Arkhouse Management and Brigade Capital Management proposed a $5.8 billion buyout of Macy’s (M), valuing the retailer at $21 per share.
? The investor group indicated willingness to raise their bid following due diligence, despite already offering a premium for Macy’s, which has faced challenges competing with online retailers.
? Amidst a tough year for retailers due to volatile interest rates and high inflation, Macy’s resilience in the online shopping sector stands out. The company, like Kohl’s (KSS) in 2022, received a takeover bid in light of its sagging business. |