Macy's Gets New $24 Per Share Buyout Offer, a 33% Premium Over Recent Share Price
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Arkhouse Management and Brigade Capital Management sent Macy's a new $24 per share buyout offer, a 14.3% increase from their previous $21 per share offer.
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The new offer represents a 33.3% premium over Macy's recent share price close.
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The investment firms say they have secured financing sources to support the deal.
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Macy's previously rejected the original buyout offer over concerns about financing ability and lack of compelling value.
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Macy's recently reported $23 billion in 2022 sales and plans to close 150 stores by the end of 2026.