This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Macy’s is said to have received a new potential takeover bid by Arkhouse, as per sources. This comes almost a year after Macy’s had rejected the bid by Arkhouse and Brigade Capital, for a $6.9bn takeover of the retailer. Gavriel Kahane, CEO of Arkhouse said, “Macy’s is still publicly traded, still mispriced, and still in desperate need of someone coming in to save shareholders”. While he did not reveal the size of Arkhouse’s stake in Macy’s, he did not rule out the possibility of a new takeover bid. In July 2024, when Arkhouse made the initial bid, Macy’s CFO Adrian Mitchell said that the offer was “not compelling”. Instead, Macy’s chose to focus on its turnaround strategy under its then appointed new CEO, Tony Spring. No further details have been revealed regarding the potential transaction.
Macy’s share price fell by 3% on Friday while its bonds were trading steady, with its 6.7% 2034s currently trading at 83.7, yielding 9.4%.
For more details, click here