Macy's receives $5.8 billion buyout offer
The buyout offer would pay shareholders a 32% premium above the stock's closing price Friday.
•
Dec 12, 2023, 12:48 PM
•
Updated 375 days ago
Share:
More Stories
0:21
FDA: More than 2 million cans of Jarritos Coconut Water recalled over seal concerns
16h ago0:51
Party City closing down all of its stores, company says
18h ago1:32
Amazon strike leads customers to wonder if holiday items will arrive on time
yesterday
Supreme Court will hear arguments over the law that could ban TikTok in the US if it's not sold
2ds ago3:12
be Well: It's not too late to get the hottest toys this holiday season!
4ds ago2:36
be Well: Ideas to decorate your table, chairs and ornaments
4ds ago0:21
FDA: More than 2 million cans of Jarritos Coconut Water recalled over seal concerns
16h ago0:51
Party City closing down all of its stores, company says
18h ago1:32
Amazon strike leads customers to wonder if holiday items will arrive on time
yesterdaySupreme Court will hear arguments over the law that could ban TikTok in the US if it's not sold
2ds ago3:12
be Well: It's not too late to get the hottest toys this holiday season!
4ds ago2:36
be Well: Ideas to decorate your table, chairs and ornaments
4ds agoMacy's shares surged after receiving a $5.8 billion buyout offer.
The offer comes from Arkhouse Management, a real-estate focused investing firm, and Brigade Capital Management, a global asset manager.
The buyout offer would pay shareholders a 32% premium above the stock's closing price Friday.
It isn't clear how the iconic 165-year-old retailer views the proposal.
Macy's has more than 700 store locations in 43 states, Washington, D.C., Puerto Rico and Guam.
In recent decades, competition from both online and big box retailers has caused Macy's and other traditional department stores to struggle.
More from News 12
2:00
STORM WATCH: Morning snow followed by partly cloudy skies in Brooklyn
0:32
NYPD: Man’s face slashed at Dumbo subway station; suspect sought
1:56
Thunderbolt 12: Checking road conditions in Borough Park
Government funding bill clears Congress and heads to President Biden, averting a shutdown
1:47
Worker says tools caused fire; site without work permits
1:45
