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.
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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