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Arkhouse and Brigade up Macy’s takeover offer to $6.6 billion following rejection of previous deal

NEW YORK (AP) — Arkhouse Management and Brigade Capital Management are upping their offer to acquire Macy’s in a deal now valued at $6.6 billion. The investment firms announced Sunday that they had submitted an all-cash proposal of $24 for each of the remaining shares in Macy’s they don’t already own — up from a earlier offer of $21 per share. Macy’s rejected the previous deal, which was valued at a total of $5.8 billion, in January while citing concerns about the financing plan. The New York-based retailer confirmed that it has received Arkhouse and Brigade’s revised proposal Sunday, adding that its board would carefully review the offer.

Article Topic Follows: AP-National

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Associated Press


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