American investment companies Arkhouse Management Co. and Brigade Capital Management have increased their offer to acquire retailer Macy's Inc. to $6.9 billion. This is reported by foreign media.
The offer for the remaining shares of Macy's provides for $24.80 compared to $24 per share according to the previous bidders.
Given the new proposal, Macy's board of directors will have to choose between the current reorganization or privatization of the company. The new CEO of Macy's, Tony Spring, is closing inefficient stores and transforming assets with higher sales, betting on expanding the network of high-end cosmetics and skin care products Bluemercury.
In January 2024, Macy's rejected an offer from Arkhouse Management and Brigade Capital Management to acquire the company for $5.8 billion, citing concerns about insufficient financing and a low valuation of the deal. From the point of view of analysts, Macy's real estate is estimated at $7.5–11.6 billion.
A group of investors managed by Arkhouse and Brigade Capital owns a significant stake in Macy's through Arkhouse funds.
Macy's, Inc. is an American retail holding company. The company is one of the largest retail chains in the United States and has 322 stores. The headquarters is located in New York (USA).
Arkhouse Management and Brigade Capital Management are global investment companies in the field of credit investment. The headquarters is located in New York (USA).
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