Daily News
From Home Furnishing Business
Macy’s Receives Buyout Offer from Investor Group
December 11,
2023 by HFBusiness Staff in Business Strategy, Industry 
According to a report in the Wall Street Journal and reported in other news outlets, including Axios, Macy’s has received a $5.8 billion buyout offer from an investor group.
The offer is a take-private offer from the group including outlets, Arkhouse Management and Brigade Capital Management among others. According to Axios, the department store operator has been an occasional target of activist investors, who have pressured Macy’s to monetize it’s real estate, operating over 500 stores in the U.S.
The proposal that was submitted on Dec. 1 reportedly included a proposal of $21 per share. That represents a 32% premium to the retailer’s stock the prior day.
As outlined by the reported outlets, so far, Macy’s stock is down 13.6% this year, and although they have had a strong third quarter relative to its past performance, the department store category remains deeply troubled.