All articles tagged with #buyout bid
Activist investor groups Arkhouse Management and Brigade Capital Management have raised their buyout bid for Macy's to $6.6 billion, offering $24 per share, a 14% increase from their original proposal. This comes after Macy's rejected a previous bid valued at $5.5 billion in January. Macy's is now reviewing the new offer as it considers its options following plans to close 150 stores by 2026.
Macy's rejected a $5.8 billion buyout offer from Arkhouse and Brigade Capital Management, citing financing issues, and is not open to sharing more information or signing a non-disclosure agreement. The company faces an uncertain future as it contemplates its next steps, including potential offers from other buyers or a reevaluation of its real estate assets. With a declining stock price and recent layoffs, Macy's is in the midst of a leadership change and must make strategic decisions to navigate the changing retail landscape and ensure its long-term viability.
Shares of Macy's surged over 19% after receiving a $5.8 billion buyout offer from real estate investor Arkhouse Management and asset manager Brigade Capital Management. The offer highlights the potential value of Macy's robust real estate portfolio, estimated to be worth billions of dollars. However, unlocking this value will be challenging due to factors such as rezoning restrictions, high interest rates, and the need for costly conversions. While Macy's retail business is profitable, the bid is lower than the company's asset values, reflecting the difficulties facing retail real estate. The future of Macy's remains uncertain, with possibilities including a private ownership structure, the sale of individual brands, or divestment of profitable assets.
Macy's stock is surging after reports of a $5.8 billion buyout bid, making the company a takeover target once again. Experts believe Macy's attractive real estate assets are contributing to the increased interest in the retailer.
Macy's shares surged nearly 20% after reports emerged that an investor group, including Arkhouse and Brigade Capital Management, submitted a $5.8 billion proposal to acquire the iconic department store chain and take it private. The offer represents a 32.4% premium over Macy's closing price on November 30. Macy's has struggled to adapt to the changing retail landscape, with increased competition from online marketplaces. The company's board of directors is reportedly considering the offer, which values the company at over $1 billion more than its current market cap.
An investor group consisting of Arkhouse Management and Brigade Capital has made a $5.8 billion offer to take department store chain Macy's private, citing competition from online rivals as a reason for its declining value. The offer represents a 20.76% premium from Macy's closing price on Friday. Macy's, which has a market capitalization of about $4.77 billion, has not yet responded to the proposal.
An investor group consisting of Arkhouse Management and Brigade Capital has made a $5.8 billion offer to take department store chain Macy's private, in response to increased competition from online rivals. The group, which already holds a significant stake in Macy's, submitted a proposal to acquire the remaining stock for $21 a share. Macy's board has met to discuss the offer, but it is unclear how the retailer views the proposal.
An investor group, consisting of Arkhouse Management and Brigade Capital Management, has made a $5.8 billion offer to buy Macy's, aiming to take the struggling department-store chain private due to intense competition from online retailers. The proposal, submitted on December 1, suggests acquiring the remaining Macy's stock for $21 per share.