Macy’s said on Monday that it will stop engaging in talks with Arkhouse Management and Brigade Capital Management about a potential buyout. The retailer said the latest proposal from the pair of investment firms "remains non-actionable and fails to provide compelling value" to Macy’s shareholders. It will instead continue pursuing its revitalization plan.Arkhouse and Brigade offered in late June to buy all outstanding Macy’s shares for $24.80 each. The two firms also provided Macy’s with financing papers th ...

The struggling department store retailer just isn't interested in selling itself at any reasonable price.Shares of iconic department store chain Macy's (M -12.21%) are down 13.3% as of 12:01 p.m. ET today, according to data from S&P Global Market Intelligence, as acquisition talks with a pair of potential suitors have ended with no deal being made. For many investors, the prospect of a buyout was the last great hope for the struggling retailer.Macy's hard-to-get gambit backfiresThe backstory behind today's ...

Macy’s (NYSE:M) stock is falling on Monday after the retailer called off talks of a deal that would have taken shares of M private.Macy’s revealed in a press release today that it is no longer moving forward with negotiations to take the company private. It was previously working with Arkhouse Management Co. LP and Brigade Capital Management, LP on the deal.Macy’s says the negotiations were shut down by its board of directors as the two investment firms failed to create an actionable proposal. Instead, the ...

Key TakeawaysMacy's on Monday said it had ended negotiations with activist investor Arkhouse Management and Brigade Capital Management after finding their latest buyout offer "not compelling."The latest offer of $24.80 per share followed bids of $21 per share in December and $24 per share in March.Shares of Macy's swooned in intraday trading Monday. After months of negotiation, Macy’s (M) on Monday said it had ended talks with would-be buyers Arkhouse Management and Brigade Capital Management. The announcem ...

Macy’s ended talks with the activist investors Arkhouse Management and Brigade Capital, claiming they lack the funds to acquire the largest department store in the world, Macy’s said on Monday.The Macy’s board has “unanimously determined to terminate discussion with Arkhouse and Brigade that have failed to lead to an actionable proposal with certainty of financing at a compelling value,” the company said in a statement.The companies entered into exclusive discussions in March after Arkhouse and Brigade uppe ...

The Macy's company logo is seen at the Macy's store on Herald Square on January 19, 2024 in New York City. Macy's department-store chain announced that they will be laying off roughly 2,350 employees which is about 3.5% of their workforce. The company says that it will also be closing five stores in order to adjust to the online-shopping era. (Photo by Michael M. Santiago/Getty Images)Department store Macy's said Monday its board has unanimously decided to end negotiations with the activist group that had b ...

Macy's, Inc. (M) is excited to announce the first-ever "All-Star Week" in celebration of Star Rewards loyalty members. This special event will run from Tuesday, Jul 16 through Tuesday, Jul 23, at Macy’s stores, macys.com and on the Macy’s app. All-Star Week features thousands of Macy’s best summer deals for everyone, with even more exclusive offers for Star Rewards members, including opportunities to earn extra reward points and $20 of Star Money. Image Source: Zacks Investment Research Exclusive Offers in ...

Key TakeawaysMacy’s is joining the list of large retailers making a big summertime sales push.The largest U.S. department store chain said it is holding its first "All-Star Week" starting next Tuesday and running for eight days.Amazon's Prime Day, Target's Target Circle Week, and Walmart's Walmart Deals sales events also are taking place this month. Macy's on Wednesday announced a special summer sale, joining other big retailers making a major seasonal push to bring in customers. The biggest U.S. department ...

Shares of Macy's, Inc. (M) jumped 9.5% on Jul 5, 2024 amid reports that activist investor Arkhouse Management and partner Brigade Capital Management have again sweetened their offer for the biggest U.S. department store chain.The Wall Street Journal reported Jul 3, 2024 that the firms raised their bid for Macy's by about $300 million to $6.9 billion. Their latest bid of $24.80 per share for shares they do not already own represents a 38.3% premium over Macy's closing price on Wednesday.This would mark the d ...

Macy's, Inc. (M) is embarking on a comprehensive revitalization strategy, focusing on operational modernization, technological integration and enhanced customer engagement. Key initiatives, such as the "First 50 Pilot" program and the "A Bold New Chapter" strategy, are designed to align the company with evolving market dynamics and drive sustainable growth.By prioritizing efficiency, profitability and innovation, Macy's aims to solidify its leadership in the retail sector and deliver long-term shareholder v ...