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Macy's Rejects $5.8B Takeover Bid from Arkhouse Management

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Source: ABC News
Macy's Rejects $5.8B Takeover Bid from Arkhouse Management
Photo: ABC News
TL;DR

Macy's rejects a $5.8 billion takeover offer from Arkhouse Management and Brigade Capital, citing concerns about the financing plan and a lack of compelling value. The department store chain recently announced job cuts and store closures, and its board determined that the proposal is not actionable. The incoming CEO, Tony Spring, will take over next month, and analysts believe that Macy's management is hesitant about the real-estate focused approach of the potential buyers.

Topics:business#arkhouse-management#brigade-capital#business#macys#rejection#takeover-bid
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  1. Macy's rejects $5.8B takeover bid from Arkhouse Management, Brigade Capital Management  ABC News
  2. Macy's rejects $5.8 billion takeover bid | REUTERS  Reuters
  3. Macy's rejects Arkhouse's $5.8 billion bid, citing financing concerns  CNBC
  4. Macy's rejects Arkhouse's $5.8 billion takeover bid  Axios
  5. Macy’s rejects a $5.8 billion unsolicited takeover offer  CNN

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