Macy's Terminates Talks With Arkhouse Management And Brigade Capital Amid Financing Uncertainty
(RTTNews) - Macy's, Inc. (M) announced Monday that its Board of Directors has unanimously determined to terminate discussions with Arkhouse Management Co. LP, and Brigade Capital Management, LP following months of engagement with then on an acquisition proposal.
Macy's said the discussions have failed to lead to an actionable proposal with certainty of financing at a compelling value.
Macy's noted that the Board intends for the management team to return its full focus to enhancing shareholder value through the execution of the Company's "A Bold New Chapter" strategy.
The Macy's, Inc. Board and management team have engaged in good faith with Arkhouse and Brigade for more than seven months since their initial outreach in December 2023 expressing interest in acquiring the Company.
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