M - Why Is Department Store Chain Macy's Stock Surging Today? | Benzinga
Arkhouse Management Co. LP and Brigade Capital Management, LP have proposed a revised takeover bid for Macy’s Inc (NYSE:M) for $24.00 per share in cash.
The new proposal is being seen as an attempt to persuade the department store chain to reconsider their previous offer.
This development follows Macy’s rejection of the initial proposal, citing its inadequacy. The offer marks a 14% increase from their prior bid of $21 per share.
This proposition represents a substantial premium of ...