From Investing.com:

Arkhouse Management and Brigade Capital Management have made a $5.8 billion proposal to take department store chain Macy’s private, offering $21 per share, representing a potential increase. The investor group has a significant stake in Macy’s and has been engaging with them privately. Macy’s has not yet responded to the proposal. Investment bank Jefferies has expressed confidence in the buyout group’s ability to raise the necessary funds.

Macy’s announced plans to cut 2,350 jobs and close five stores in an effort to streamline operations. The department store operator reported quarterly profits that surpassed analysts’ estimates, attributed to lower inventories and a strong demand for beauty products. This signals that previous attempts to reduce inventory were successful.



Read more: Arkhouse confirms $5.8 billion proposal to take Macy’s private By Reuters