Macy’s confirmed that it has received a revised, unsolicited, non-binding proposal from Arkhouse Management and Brigade Capital Management to acquire all of the outstanding shares of the company for $24.00 per share in cash. The company said the Macy’s Board will carefully review and evaluate the latest proposal consistent with the Board’s fiduciary duties and in consultation with its financial and legal advisors. Macy’s added that it does not intend to comment further on Arkhouse and Brigade’s revised, unsolicited non-binding proposal until the Board has completed its review.
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