Macy's, a well-known US department store, is in talks for a $5.8 billion buyout offer from existing investors, Arkhouse Management and Brigade Capital.
This means Macy's might no longer be traded on the stock market. Despite being famous for events like the Thanksgiving Day parade and having big stores like the one in New York's Herald Square, Macy's has struggled with online shopping.
In 2020, they announced closing 125 stores and cutting jobs. The company is still making a profit, about $1.2 billion last year. The offer from Arkhouse and Brigade is a 32% premium, showing they think Macy's is undervalued.
Macy's stock prices went up recently, but the offer is below its pre-pandemic levels. The investors might raise the bid, and they could be interested in Macy's properties for potential profits.
Macy's has not commented on this yet.
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