Macy's is scrapping discussions with Arkhouse Management and Brigade Capital Management after months of negotiations.
Originally, in December, the two investment firms submitted a $5.8 billion offer to buy out the retailer, which equaled $21 per share. At the time, that represented a 32 percent premium from the previous day's closing price.
In March, Macy's agreed to enter talks about a new proposal when Arkhouse and Brigade upped their bid to $24 per share. The two potential buyers even went up to $24.80 per share afterward but Macy's was still not impressed.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.