Macy’s is cutting of talks with Arkhouse and Brigade, citing the lack of certain financing
FILE - Cars are parked in front of a Macy's store at Hawthorn Mall in Vernon Hills, Ill., June 3, 2024. Macy’s Inc. said Monday, July 15, it will no longer pursue merger talks with Arkhouse and Brigade, citing the lack of certain financing. In March Arkhouse Management and Brigade Capital Management raised their offer to acquire Macy’s in a deal then valued at $6.6 billion, or $24 per share cash, up from a earlier offer of $21 per share.
Macy's is terminating buyout talks with Arkhouse and Brigade, citing the lack of certainty over financing.Macy's shares tumbled 14.4% in premarket trading, to $16.35. And in April, Macy’s named two independent directors to its board that were pushed by activist investor Arkhouse, ending a proxy fight that aimed to replace most of the board and to acquire the iconic chain., which have held up better overall. Macy’s said it will open 15 higher end Bloomingdale’s stores and 30 luxury Bluemercury cosmetics locations to cater to customers seeking higher end services and goods.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Macy's ends buyout talks with Arkhouse and Brigade after months of negotiationsArkhouse and Brigade had for months been attempting to buy out the storied retailer.
Read more »
Macy's ends takeover talks with Arkhouse and Brigade citing lack of certainty over financingMacy’s is cutting of talks with Arkhouse and Brigade, citing the lack of certain financing. In March, Arkhouse Management and Brigade Capital Management raised their offer to acquire Macy’s in a deal then valued at $6.6 billion, or $24 per share cash, up from a earlier offer of $21 per share.
Read more »
Arkhouse, Brigade Capital Raise Macy's Bid to $6.9BArkhouse Management and Brigade Capital Management have raised their bid to buy Macy's for about $6.9 billion, The Wall Street Journal reported.
Read more »
NYC and NJ road closures for Macy's 4th of July fireworks: What to knowHere's a breakdown of what to look out for in Manhattan, part of Brooklyn, and the New Jersey spots along the water where crowds are sure to gather: Hoboken,…
Read more »
12 products to shop during Macy's Fourth of July saleFrom Levis high-rise jeans to a three-piece Clinique skin care set and more, lifestyle expert Jasmine Snow shares her top picks from Macy's Fourth of July sales to stay stylish this season.
Read more »
Chance of showers forecast for Macy's Fourth of July Fireworks displayMacy's is prepping for the 48th annual Fourth of July fireworks show over New York City this holiday. The show will feature the launch of 60,000 fireworks.
Read more »