Investors Propose Buying US Retailer Macy's For $5.8 Bn: Report

Posted on AllSides December 10th, 2023
From The Center

A group of investors have offered to buy US department store giant Macy's for $5.8 billion, the Wall Street Journal reported Monday. Arkhouse Management, a firm specializing in real estate investments, and asset manager Brigade Capital Management submitted a proposal to acquire the company's remaining stock for $21 per share, the financial daily reported, citing "people familiar with the matter." Macy's shares were trading for $17.39 per share as of Friday's market close. Though the department store sector has been hit by the rise of online shopping, the decline of...

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