Macy’s Allowing Potential Buyers to Examine Its Books

[PinkDiamond]

It looks like Macy's is seriously interested in the buy-out offers it's been receiving from 2 companies who are apparently willing to negotiate the deal for even more than the current bid after taking a look at the books so we'll watch this and I'll let you know what happens. Here's the scoop.

Macy’s Allowing Potential Buyers to Examine Its Books
By Rob Bates | March 20, 2024



"Macy’s is allowing investment firms Arkhouse and Brigade Capital Management to examine its books, increasing the chance of a possible acquisition, according to a report from Reuters.

The department store turned down the investment firms’ initial offer in January of $21 a share—but grew more receptive when they upped their bid to $24 earlier this month. The two would-be buyers have hinted they’re open to boosting the price further. At press time, Macy’s stock was trading at $21.15 a share.

Now that Arkhouse and Bridgade have been allowed to progress to the due diligence phase, they may have greater access to financing, though there’s still no guarantee the negotiations will lead to a deal, sources told the news service.

Last month, Macy’s announced that it would close ... "
https://www.jckonline.com/editorial-art ... ers-books/