Private equity firm Sycamore is eyeing Macy’s for a potential bid, WWD’s David Moin reported on Friday. According to sources, Sycamore has the wherewithal and has raised debt, despite the tough borrowing climate, in preparation for what could be an all-cash offer to buy the retailer. Previous reports indicated that an investor group made up of real-estate investing firm Arkhouse Management and global asset manager Brigade Capital presented Macy’s with a proposal to acquire the company at $5.8B or $21 per share.
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