M Stock Alert: What to Know as Macy's Rejects $5.8 Billion Buyout Offer

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 ...