( ) -q-24- UNDATED (Correspondent Jeremy House) “remaining 350 stores.” Macy’s says it will no longer pursue merger talks with Arkhouse and Brigade, citing the lack of certain financing. [CutID: <Cuts> MACY’S-NO-MERGER-house-q-MONam.mp3 Time: 24s Title: MACY’S-NO-MERGER-house-q-MONam Out-cue: remaining 350 stores] TAG: Correspondent Jeremy House reporting. ————————– VERBATIM: In March, Arkhouse Management and Brigade Capital Management […]
Audio
Macy’s terminating buyout talks with Arkhouse and Brigade
( ) -q-24- UNDATED (Correspondent Jeremy House) “remaining 350 stores.”
Macy’s says it will no longer pursue merger talks with Arkhouse and Brigade, citing the lack of certain financing.
[CutID: <Cuts> MACY’S-NO-MERGER-house-q-MONam.mp3
Time: 24s
Title: MACY’S-NO-MERGER-house-q-MONam
Out-cue: remaining 350 stores]
TAG: Correspondent Jeremy House reporting.
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VERBATIM: In March, Arkhouse Management and Brigade Capital Management raised their offer to acquire Macy’s in a deal then valued at $6.6 billion, or $24 per share cash. Macy’s now says it will focus on its own turnaround efforts. That includes closing 150 namesake stores over the next three years and upgrading its remaining 350 stores.