Macy’s has agreed to open its books to Arkhouse and Brigade Capital, people familiar with the matter said, a potential breakthrough in their $6.6B bid to take the U.S. department store operator private, Reuters’ Abigail Summerville and Svea Herbst-Bayliss report. Macy’s, which had snubbed Arkhouse and Brigade’s previous acquisition overtures, has now entered into a confidentiality pact with them that allows the exchange of commercially sensitive information, the sources said.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on M:
- Target (NYSE:TGT) Notches Up on Self-Checkout Changes
- Williams Trading sees Dick’s Sporting taking share, upgrades to Buy
- M & A News: Investors Thrilled as Macy’s (NYSE:M) Proxy Battle Heats Up
- Macy’s call volume above normal and directionally bullish
- Macy’s price target raised to $25 from $23 at JPMorgan
