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Macy’s: Behind The $5.8bn Takeover Offer

In an effort to take Macy’s private, a group of investors led by Arkhouse Management and Brigade Capital has put forth a proposal worth $5.8 billion, according to an undisclosed source familiar with the matter.

Macy’s, Inc. owns the department store chains Bloomingdale’s and Macy’s, and beauty store chain Bluemercury, all of which operate flagship stores in Manhattan. Photo: Getty Images

The consortium, composed of Arkhouse Management, a real estate-focused investment firm, and Brigade Capital Management, a global asset manager, submitted the offer of $21 per share on December 1st.

This represents a premium of 20.76% over Macy’s closing price of $17.39 on the last trading day.

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