Macy’s Inc. on Sunday confirmed that it has received a revised, unsolicited, non-binding proposal from Arkhouse Management Co. LP and Brigade Capital Management LP to acquire all of the outstanding shares of the Company for $24 per share in cash.
The Macy’s Inc. Board will carefully review and evaluate the latest proposal consistent with the board’s fiduciary duties and in consultation with its financial and legal advisors. The Macy’s Inc. Board has a proven track record of evaluating a broad range of options to create shareholder value, is open-minded about the best path to achieve this objective, and is committed to continuing to take actions that it believes are in the best interests of the company and all Macy’s, Inc. shareholders.
Macy’s Inc. does not intend to comment further on Arkhouse and Brigade’s revised, unsolicited non-binding proposal until the Board has completed its review. Macy’s Inc. shareholders do not need to take any action at this time.
Bank of America Securities and Wells Fargo are acting as financial advisors and Wachtell, Lipton, Rosen & Katz is acting as legal advisor to the company.
About Macy’s Inc.
Macy’s Inc. is a trusted source for quality brands through our iconic nameplates – Macy’s, Bloomingdale’s and Bluemercury. Headquartered in New York City, our comprehensive digital and nationwide footprint empowers us to deliver a seamless shopping experience for our customers. For more information, visit macysinc.com.
