Investors consortium raises bid to acquire Macy's (M.US) to $6.6 billion dollars.
According to reports, after Macy's rejected the previous acquisition proposal citing a low bid, an investor consortium raised their acquisition offer by around $1 billion.
According to reports, after Macy's (M.US) rejected a previous acquisition proposal citing a low bid, an investor group has increased their acquisition offer by approximately 1 billion US dollars.
Sources familiar with the matter say that Arkhouse Management and Brigade Capital Management are now proposing to acquire Macy's shares they do not currently own at a price of $24 per share (6.6 billion US dollars).
Last December, the consortium had made an offer of $21 per share. The new offer is 33% higher than Macy's closing price last Friday.
As of last Friday, Macy's stock price has fallen by about 10% year-to-date.
Related Articles
Data center operator Switch secretly applies for U.S. IPO, with a listing possible as early as November.
HK Bull/Bear Outstanding Qty Ratio(49:51) | August 8
Overnight US stocks | In July, non-farm payrolls unexpectedly declined, and the S&P 500 index reached a record closing high. SpaceX (SPCX.US) surged nearly 16%.
Data center operator Switch secretly applies for U.S. IPO, with a listing possible as early as November.
HK Bull/Bear Outstanding Qty Ratio(49:51) | August 8
Overnight US stocks | In July, non-farm payrolls unexpectedly declined, and the S&P 500 index reached a record closing high. SpaceX (SPCX.US) surged nearly 16%.
RECOMMEND
