Macy's scraps talks to go private for $6.9B with activist investors Arkhouse and Brigade

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 ...