"Arkhouse and Brigade Increase Macy's Takeover Bid to $6.6 Billion"
Investment firms Arkhouse Management and Brigade Capital Management have increased their acquisition offer for Macy's to $6.6 billion, up from a previous offer of $5.8 billion that was rejected by the retailer in January. Macy's confirmed receiving the revised proposal and stated that its board would carefully review the offer. The investment firms expressed frustration with Macy's board's delay tactics and reiterated their commitment to completing the transaction. Macy's recently announced plans to close 150 namesake stores over the next three years and upgrade its remaining 350 stores as part of restructuring efforts.