Macy's Ends Buyout Talks with Arkhouse and Brigade

Retailer cites lack of financing certainty and insufficient value in scrapping $6.9 billion proposal.

Macy's board unanimously decided to terminate the buyout discussions after extensive due diligence.
Arkhouse and Brigade's proposal was deemed non-actionable due to financing uncertainties.
Macy's shares fell over 14% following the announcement.
The retailer will focus on its 'A Bold New Chapter' strategy to revitalize its operations.
Plans include closing 150 underperforming stores and expanding higher-end Bloomingdale's and Bluemercury locations.