Macy's is terminating its monthslong buyout talks with two investment firms, citing a substandard offer and the lack of certainty over financing. Macy's ends takeover talks with Arkhouse and Brigade citing lack of certainty over financing In announcing the end of negotiations on Monday, Macy’s alleged that Arkhouse Management and Brigade Capital Management did not meet its request for information …
Macy’s is terminating its monthslong buyout talks with two investment firms, citing a substandard offer and the lack of certainty over financing. Macy’s said that offer was within a range that its board had previously told Arkhouse and Brigade was “not compelling.” Macy’s shares tumbled 11.7% to close Monday at $16.85. “Other than seeking to monetize Macy’s real estate assets …
Arkhouse Management is nominating nine people for Macy’s board of directors, igniting a proxy battle after the department store operator rejected a $5.8 billion takeover offer from the investment firm and Brigade Capital Management. Macy’s said at the time that its board reviewed the investment firms’ proposal and not only had concerns about the financing plan, but also felt there …
Macy’s is rejecting a $5.8 billion takeover offer from investment firms Arkhouse Management and Brigade Capital Management, saying they didn’t provide a viable financing plan. Macy’s said its board reviewed the investment firms’ proposal and not only had concerns about the financing plan, but also felt there was a “lack of compelling value.” “Following careful consideration and efforts to gather …
