M - Proxy Fight Concludes Yet Macy's Future Remains In The Balance: Report | Benzinga
Macy’s Inc (NYSE:M) CEO Tony Spring faces a race against time to reverse the company’s fortunes.
Two new members will join the CEO on the department store retailer’s board amid its deliberations over whether to back his vision or sell to activist investors, reported CNBC.
The recent board appointments mark the resolution of a proxy battle with activist Arkhouse Management.
This follows ongoing attempts by Arkhouse and Brigade Capital Management to acquire the struggling American department store retailer, the report read.
In December, Arkhouse initiated a bid to purchase Macy’s at $21 per share, aiming to privatize the company.
Despite ...