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Macy’s Has Received a $5.8B Buyout Offer, Sources Say
The storied retailer has been struggling in the face of online competition.
Arkhouse Management and Brigade Capital Management have offered to buy Macy’s for $5.8 billion, according to several recent reports.
New York—Macy’s has reportedly received a multi-billion-dollar buyout offer that would take the department store chain private.
Real estate investment firm Arkhouse Management and asset management firm Brigade Capital Management have offered to buy the storied retailer for $5.8 billion, The Wall Street Journal reported earlier this week.
The offer values the retailer at $21 per share, above the $17 per share price it closed at the Friday prior to the news.
The firms would be willing to offer even more after due diligence, sources said.
Still, Arkhouse and Brigade Capital would be paying a premium for Macy’s, which has struggled in recent quarters as online competition heats up.
In its recent third quarter, Macy’s reported a 7 percent year-over-year decline in total sales, with both brick-and-mortar and online sales declining.
Macy’s sits at No. 7 on National Jeweler’s 2023 “$100 Millon Supersellers” list, with an estimated $1.7 billion in jewelry and watch sales, up from $1.64 billion the previous year.
Related stories will be right here …
Real estate investment firm Arkhouse Management and asset management firm Brigade Capital Management have offered to buy the storied retailer for $5.8 billion, The Wall Street Journal reported earlier this week.
The offer values the retailer at $21 per share, above the $17 per share price it closed at the Friday prior to the news.
The firms would be willing to offer even more after due diligence, sources said.
Still, Arkhouse and Brigade Capital would be paying a premium for Macy’s, which has struggled in recent quarters as online competition heats up.
In its recent third quarter, Macy’s reported a 7 percent year-over-year decline in total sales, with both brick-and-mortar and online sales declining.
Macy’s sits at No. 7 on National Jeweler’s 2023 “$100 Millon Supersellers” list, with an estimated $1.7 billion in jewelry and watch sales, up from $1.64 billion the previous year.
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