From CNBC:

Investment firm Arkhouse Management has launched a proxy fight at Macy’s, nominating nine directors for election to the department store’s board. The nominees include former Brookfield executive Ric Clark, restructuring expert Mo Meghji, and Isaac Zion, formerly co-chief investment officer at SL Green. The board rejected a $5.8 billion offer from Arkhouse in December.

Arkhouse managing partners Jonathon Blackwell and Gavriel Kahane have provided Macy’s board with further details on financing, stating they were backed by equity partners with combined assets under management of more than $75 billion. Macy’s has not yet set a date for its 2024 annual shareholder meeting, where shareholders will be able to pick individual director nominees from both activist and management slates. Arkhouse’s nominees also include former Hudson Bay CEO Jerry Storch, former Victoria’s Secret CEO Sharen Turney, Nuveen impact investing head Nadir Settles, and retail executive Andrea Weiss.



Read more: Macy’s activist Arkhouse launches proxy fight with nine directors