Arkhouse Management and Brigade Capital Management are upping their deal.
NEW YORK — Arkhouse Management and Brigade Capital Management are upping their deal to acquire Macy’s in a offer now valued at $6.6 billion.
The financialinvestment companies revealed Sunday that they had sent an all-cash proposition of $24 for each of the staying shares in Macy’s they puton’t currently own — up from a earlier deal of $21 per share.
Macy’s declined the previous offer, which was valued at $5.8 billion, in January. At the time, the merchant stated that its board evaluated the financialinvestment companies’ proposition and not just had issues about the funding strategy, however likewise felt there was a “lack of engaging worth.”
In a joint-statement Sunday, Arkhouse handling partners Gavriel Kahane and Jonathon Blackwell stated that they “remain disappointed by the hold-up methods” from Macy’s board and its “c