Macy's Receives $5.8B Buyout Bid from Arkhouse and Brigade Capital

Investor group offers to take the iconic retailer private, valuing the company at over $1 billion more than its current market cap.

Macy's, the major American department store chain, has reportedly received a $5.8 billion buyout bid from investor group Arkhouse and Brigade Capital Management.
The offer, submitted on Dec. 1, proposes to acquire the Macy’s stock they don’t already own at $21 a share, a 32.4% premium from Macy’s closing price on Nov. 30.
The investors believe that Macy’s is undervalued in public markets and have indicated that they would be willing to raise their offer based on due diligence.
Macy’s board of directors has reportedly met to discuss the offer, though it’s unclear what the retailer’s next move will be.
The $5.8 billion deal values the company at more than $1 billion more than its current market cap.