Arkhouse Management and Brigade Capital Management have raised their bid to buy Macy's for about $6.9 billion, The Wall Street Journal reported.
Arkhouse Management and Brigade Capital Management have raised their bid to buy Macy's for about $6.9 billion, The Wall Street Journal reported, citing people familiar with the matter.The new proposal is to acquire Macy's stock that Arkhouse and Brigade Capital do not already own for $24.80 each, up from $24 per share offered in March, the report added. Arkhouse , which has a 4.4% stake in Macy's, had earlier raised the offer price to $24 per share from $21.
The current bid of $24.80 represents a nearly 43% premium to Macy's closing price on Dec. 8 when deal talks first emerged.
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