Macy’s (NYSE:M) stock is on the move Monday after the retailer rejected a massive takeover offer from Arkhouse Management Co. and Brigade Capital Management.Macy’s Board of Directors gave its official response to the two investors following an unsolicited bid for them to take over the company. They were seeking to acquire M stock for $21 per share, which is a total value of $5.8 billion.News of the buyout offer for M stock sent the company’s shares rising on Monday. That makes sense considering the $21 per ...

  Fundraising and awareness campaign ignites the power of mentorship and possibilityTAMPA, Fla. and NEW YORK, Jan. 22, 2024 /PRNewswire/ -- Big Brothers Big Sisters (BBBS), the nation's preeminent one-to-one youth mentoring organization, is thrilled to announce fundraising results from Macy's 2023 holiday campaign and grant awards. Through the company's social purpose platform, Mission Every One, which is committed to creating brighter futures with bold representation for all, Macy's customers raised $4.3 m ...

Key TakeawaysMacy's board has rejected a $5.8 billion takeover offer, citing concerns over financing and valuation.Arkhouse Management and Brigade Capital had proposed to take the company private by acquiring the retailer's stock for $21 per share.Macy's share price may find support at the key 38.2% and 50% Fibonacci levels. Macy's, Inc.  Source: TradingView.com.Legacy department store Macy’s (M) remains in focus Monday morning after the retailer said that it has turned down a $5.8 billion takeover offer ...

New York City, USA -gettyA post-Christmas look at store performance has prompted Macy’s management to close five department stores and two furniture galleries. The decision to close the stores (listed below) forced the decision to lay off 2,300 associates.The lay off translates into a reduction of about 3.5 percent of the Macy’s workforce and is occurring mostly at the company’s corporate office. The cuts are taking place across all of Macy’s corporate functions. In explaining these actions, a spokesman is ...

Arkhouse Management and its partner Brigade Capital Management on Dec. 1 made a $5.8 billion proposal to take department store chain Macy’s private, Arkhouse confirmed on Sunday.Arkhouse Management, a real-estate-focused investing firm, and Brigade Capital Management, a global asset manager, submitted a proposal to acquire the Macy’s stock they don’t already own for $21 a share, Arkhouse said in a statement.The investor group sees “the potential for a meaningful increase to the original proposal if we are ...

NEW YORK--(BUSINESS WIRE)--Macy’s, Inc. (NYSE: M) confirmed today that it received an unsolicited, non-binding proposal from Arkhouse Management Co. LP (“Arkhouse”) and Brigade Capital Management, LP (“Brigade”) to acquire all of the outstanding shares of the Company for $21.00 per share in cash on December 1, 2023, and that the Macy’s, Inc. Board of Directors (the “Board”) has determined that the non-binding proposal does not constitute a basis to enter into a non-disclosure agreement or provide any due di ...

NEW YORK--(BUSINESS WIRE)--Arkhouse Management Co. LP (together with its affiliates, “Arkhouse”, “we” or “us”), which owns a significant stake in Macy’s, Inc. (“Macy’s” or the “Company”) (NYSE: M), today issued the following statement from Arkhouse Managing Partners Gavriel Kahane and Jonathon Blackwell: “ In recent weeks, Arkhouse and our partner, Brigade Capital Management, LP, have engaged privately with Macy’s regarding a potential acquisition of the Company. Our investor group can confirm that we coll ...

Macy’s will layoff 3.5% of its employees, approximately 2,350 positions and shutter five stores.getty Following a year when retail grew 3.5% overall and November-December 2023 holiday sales were even more robust, advancing 3.8%, retailers are going into 2024 with wind in their sales.Yet, Macy’s, Wayfair W , and Walmart WMT are among the retailers announcing layoffs and store closings as these forward-looking retailers ready for a reset in 2024.Good News, Bad News“Consumer spending was remarkably resilient t ...

Macy's, Inc. (M) , an omnichannel retail organization, is reportedly undergoing a significant operational restructuring. The retail giant is said to be  lowering its headcount, as part of its turnaround efforts to rein in costs and address dwindling sales. Roughly, 2,300 positions across the board would be affected by this move.The company has steadily reduced its workforce from 175,700 in 2013 to 94,570 in 2023, marking a 46% decline over a decade, per macrotrends.net. This substantial decrease in manpower ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...