Arkhouse and Brigade Increase Offer to Acquire Macy’s, Revealing Major Equity Partners

Arkhouse and Brigade Increase Offer to Acquire Macy’s, Revealing Major Equity Partners

THE WHAT?  Arkhouse Management, in collaboration with Brigade Capital Management, has made an increased all-cash offer to acquire Macy’s at US$24.00 per share, revealing Fortress Investment Group LLC and One Investment Management US as equity partners.

THE DETAILS  This offer provides a 51.3% premium over Macy’s share price before the initial bid, a 33.3% premium to its closing price on March 1, 2024, and is 14.3% higher than their previous proposal. Despite resistance from Macy’s Board of Directors, Arkhouse and Brigade argue that their proposal offers substantial value and liquidity to Macy’s shareholders, promising a better future for the company as a private entity.

THE WHY?  They have addressed concerns regarding the feasibility of their offer, confirming full financing from global institutional sources, and urge Macy’s board to engage in negotiations to explore the transaction further.

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