Macy’s rejected a $5.8 billion takeover offer from investment firms Arkhouse Management and Brigade Capital Management. [CutID: <Cuts> MACY’S-TAKEOVER-house-q-TUEam.mp3 Time: 21s Title: MACY’S-TAKEOVER-house-q-TUEam Out-cue: and store closures] In rejecting the offer, Macy’s said the firms didn’t provide a viable financing plan. Arkhouse and Brigade offered $21 per share for the stock they don’t already own. […]
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Macy’s rejects $5.8B takeover bid
Macy’s rejected a $5.8 billion takeover offer from investment firms Arkhouse Management and Brigade Capital Management.
[CutID: <Cuts> MACY’S-TAKEOVER-house-q-TUEam.mp3
Time: 21s
Title: MACY’S-TAKEOVER-house-q-TUEam
Out-cue: and store closures]
In rejecting the offer, Macy’s said the firms didn’t provide a viable financing plan. Arkhouse and Brigade offered $21 per share for the stock they don’t already own. The department store chain also said there was a lack of compelling value in the non-binding proposal. The move comes a week after Macy’s announced job cuts and store closures.