Macy's Gets $6.6 Billion Buyout Offer After Rejecting Prior Bid, Plans Store Closures
• Macy's receives higher buyout offer of $6.6 billion from investment firms after rejecting prior bid • New offer values Macy's at $24 per share, 14% higher than previous $21 per share bid • Macy's unveiled plans last week to close 150 underperforming stores over 3 years • Investment firms criticize Macy's restructuring plan, say it "failed to inspire investors" • Macy's confirms receiving new proposal, board to carefully review offer