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Multi-billion dollar buyout offer for Macy's

Macy’s Inc. has been presented with a substantial multi-billion dollar buyout offer by a consortium comprising Arkhouse Management and Brigade Capital Management, aiming to privatise the company. The Wall Street Journal revealed the $5.8 billion offer that landed on December 1st.

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Reportedly, this offer values Macy’s Inc. at $21 per share, while the retailer’s stock closed slightly above $17 per share last Friday. Brigade Capital, focusing on credit, and Arkhouse, specialising in real estate, see potential in Macy’s vast real estate holdings.

As of yet, Macy’s Inc. has not issued any official statement or filed related documents with the SEC regarding this proposal. The company stands on the brink of a transitional period, with CEO-elect Tony Spring expected to assume leadership in January. Spring’s tenure aims to build upon five key growth strategies encompassing private brand enhancements, off-mall expansions, digital marketplace development, strengthening luxury nameplates like Bloomingdale’s and Blue Mercury, and refining personalised communication to bolster sales.

Source: Wall Street Journal

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