Skip to Content

Macy’s ends takeover talks with Arkhouse and Brigade citing lack of certainty over financing

KVIA

AP Business Writer

Macy’s is cutting off buyout 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 said Monday it will focus on its own turnaround efforts that includes closing 150 namesake stores over the next three years including and upgrading its remaining 350 stores. Macy’s shares tumbled almost 12% to close Monday at  $16.85.

Article Topic Follows: AP National News

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

KVIA ABC 7 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content