Consumer
Arkhouse Seeks Majority on Macy’s Board After Rejected Takeover Bid
- Macy’s to consider nominees after rejecting $5.8 billion offer
- Arkhouse’s Kahane says real estate is ‘bad idea’ for Macy’s
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Macy’s Inc. said it received nine nominations to its board from Arkhouse Management Co., the activist investor leading an effort to acquire the department-store company.
Macy’s said Tuesday it would consider the director nominees but noted that it had previously rejected a $5.8 billion offer from Arkhouse and Brigade Capital Management. The retailer said Arkhouse and Brigade “have yet to provide any financing details that would enhance the actionability of their proposal despite multiple opportunities to do so.”