“Why Macy’s rejected its $5.8 billion buyout bid — and what’s next”
January 25, 2024
“…The once darling department store faces an uncertain future after it rejected a $5.8 billion buyout offer from one of its shareholders, Arkhouse, and its partner Brigade Capital Management, on Sunday.
Macy’s cited financing issues as a reason for the rejection, while Arkhouse said it has a letter from investment bank Jefferies Group that backs up its ability to raise funds. Neither side will elaborate on what the money concerns are…”