Posted 12/11/2023, 1:09:00 PM
Macy's Gets $5.8 Billion Buyout Offer From Investors
- Macy's received a $5.8 billion buyout offer from two existing investors that could take the company private
- The offer is $21 per share, a 32% premium over the recent share price, but below 2021 highs
- Macy's is a prominent US retailer, owning flagship brands and sponsors the Thanksgiving Day parade
- However, Macy's has struggled to adapt to online retail competition and has closed stores
- The investors likely see unrecognized value in Macy's real estate assets that could be sold at a profit