Macy's adds 2 new directors to board, ending fight with activist investors

Macy’s ended a nearly two-months long proxy contest with Arkhouse Management by adding two of the activist investor’s nominees to its board, the department store chain said Wednesday.The retailer also said it continues to engage with Arkhouse and Brigade Capital Management over their revised buyout proposal.In March, Arkhouse and Brigade raised their offer to acquire Macy’s stock they do not already own for $24 per share, valuing the retailer at $6.6 billion, after the company rejected an earlier bid made i ...