Macy's, Inc. Terminates Discussions with Arkhouse and Brigade
The story of the attempt, as chronicled by WWD (Women's Wear Daily) , is a high-stakes corporate drama that pitted activist investors against a legacy retailer fighting to reclaim its relevance. The Opening Gambit wwd macy's buyout
Arkhouse responded by launching a proxy battle to replace nine of Macy's 15 board members and raised its bid to $6.6 billion ($24 per share) in March 2024. Macy's, Inc
To avoid a protracted legal battle, Macy's reached a settlement in April 2024, agreeing to add two Arkhouse-nominated directors to its board and opening its confidential financial books for due diligence. The Turning Point: "A Bold New Chapter" wwd macy's buyout