An investor group encompassing Arkhouse Management Co. LP and Brigade Capital Management, LP threatened to bring the proposed Macy's Inc. takeover bid, valued at $5.8 billion, to shareholders, if negotiations with the latter lead to nowhere, it was revealed in a statement on Sunday given to The Wall Street Journal.
"We are highly motivated to consummate an acquisition of Macy’s and are prepared to pursue all necessary steps, including direct engagement with stockholders, to achieve this goal. We have conviction in the long-term success of Macy’s but believe that its potential will only be realized as a private company," Arkhouse Managing Partners Gavriel Kahane and Jonathon Blackwell stressed.
On December 1, 2023, the group launched its offer to acquire the remaining Macy's stock it doesn't already own, for $21 apiece. Even though the representatives from both sides met and held private discussions, no potential deal is currently in sight.
