XRT - What's Going On With Department Store Major Macy's Shares On Friday? | Benzinga
Shares of department store chain Macy’s Inc (NYSE:M) are rising in premarket today. An investor group aiming to purchase Macy’s has reportedly increased its bid for the second time after previous offers failed.
Arkhouse Management and Brigade Capital Management recently raised their proposal by approximately $300 million, reported The Wall Street Journal.
The new bid values Macy’s stock at $24.80 per share, totaling around $6.9 billion, according to people who spoke to the Wall Street Journal.
In March, Arkhouse and Brigade increased their offer to ...