Shares of Macy's, Inc. (M) sharply declined 11.7% during the trading session on Jul 15, 2024, following the announcement of the termination of discussions with Arkhouse Management Co. LP and Brigade Capital Management, LP, regarding a potential acquisition. The seven-month engagement and thorough due diligence process revealed that the proposal lacked financing certainty and did not offer sufficient value. Macy's had been in discussions with Arkhouse and Brigade since December 2023. A confidentiality agreem ...

Alexey Koza/iStock via Getty Images In no real surprise, Macy's, Inc. (NYSE:M) terminated discussions with investment firms constantly lowballing the company with offers to acquire the business. The department store retailer has a valuable retail business and real estate assets worth billions, yet the firms continued to make offers far below the true value of just the real estate assets. My investment thesis is ultra-Bullish on the stock, dipping here due to a broken stock market. Source: Finviz Termi ...

The Macy’s board of directors has unanimously decided to end acquisition talks with Arkhouse Management and Brigade Capital Management.The decision follows more than seven months of engagement that included a due diligence process, Macy’s said in a Monday (July 15) press release.“At this time, after careful review, we have concluded that Arkhouse and Brigade’s proposal lacks certainty of finance and does not deliver compelling value, notwithstanding the significant time, resources and information shared dur ...

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 ...

Core Insights - Macy's, Inc. is launching its first-ever "All-Star Week" to celebrate Star Rewards loyalty members, running from July 16 to July 23, featuring exclusive offers and thousands of summer deals [1][5] Group 1: Event Details - All-Star Week includes exclusive savings for Star Rewards members, with opportunities to earn extra reward points and $20 in Star Money [1][2] - The event encourages shopping across various categories, offering three times loyalty points on select purchases such as Shoes, Cosmetics, and Handbags [3] - Daily online deals will provide Star Rewards members with the chance to earn 10 times the loyalty points on featured brands [3] Group 2: Membership Benefits - Joining Star Rewards is free and allows members to earn points on all purchases, excluding gift cards and services [4] - New Macy's cardholders can receive an additional 30% off, up to $100, during the first two days of All-Star Week [4] Group 3: Strategic Implications - The All-Star Week initiative aims to enhance customer loyalty and satisfaction by providing exclusive deals, thereby positioning Macy's competitively in the retail market [5] - Macy's stock has increased by 16.4% over the past year, slightly underperforming the Retail – Regional Department Stores industry's growth of 16.9% [5]

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 ...