Macy's Rejects $5.8 Billion Buyout Offer

Macy's Rejects $5.8 Billion Buyout Offer Jan/23/2024

Macy's, a prominent U.S. department store chain, has declined a $5.8 billion acquisition proposal from a consortium led by Arkhouse Management and Brigade Capital Management. The investors offered $21 per share, a 21% premium over the stock's closing price as of December 1, 2023. Macy's CEO Jeff Gennette stated the offer did not adequately value the company for its shareholders and expressed concerns about the consortium's funding capabilities. Gennette affirmed Macy's openness to future propositions aligning with shareholder and company interests. Tag cloud below demonstrates the prevalence of Macy's trademarked items in the U.S. market, along with the relevant trademark classes they are associated with.