Macy's Adds Two Directors in Settlement with Arkhouse, Continues Negotiations on Takeover Bid

Macy's has appointed two new directors as part of a settlement with activist investors Arkhouse and Brigade, with a potential $6.6 billion acquisition still under discussion.

Macy's has ended its proxy fight by appointing Ric Clark and Rick Markee to its board, both nominees of Arkhouse Management.
The new directors will join the finance committee to evaluate and recommend on the ongoing $6.6 billion takeover proposal by Arkhouse and Brigade.
Macy's board remains open to negotiations, having provided confidential information to Arkhouse for due diligence.
Despite the boardroom changes, Macy's continues to face challenges with declining store traffic and plans to close 150 stores over three years.
Macy's stock showed minor fluctuations following the announcement, reflecting investor uncertainty about the future.