Macy's Receives Increased $6.9 Billion Buyout Offer

Arkhouse Management and Brigade Capital raise bid to $24.80 per share, boosting Macy's stock by 11%

The new offer of $24.80 per share represents a 38.3% premium to Macy's recent closing price.
This is the third bid from Arkhouse and Brigade since December, following previous offers of $21 and $24 per share.
Macy's shares surged 11% in intraday trading following the news.
The retailer recently added two Arkhouse-backed members to its board after a proxy battle.
Macy's board is engaging with the investors and providing confidential information for due diligence.