An investor group has offered another bid to buy out the department store retailer Macy’s, this time offering over $6 billion.
The offer by Arkhouse Management and Brigade Capital would be to purchase Macy’s shares for $24 a piece, equating to about $6.6 billion. The investor group’s previous offer to acquire Macy’s, which was rejected, would have purchased the retailer’s shares for $21 a piece, or roughly $5.8 billion.
“We remain frustrated by the delay tactics adopted by Macy’s Board of Directors and its continued refusal to engage with our credible buyer group,” Arkhouse managing partners Gavriel Kahane and Jonathon Blackwell said in a statement. “Nonetheless, we are steadfast in our commitment to execute this transaction.”
In response to this offer, Macy’s issued a statement that it would “carefully review and evaluate” the group’s proposal, which will include consulting
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