NEW YORK--(BUSINESS WIRE)-- Macy’s, Inc. (NYSE: M) today confirmed that it has received a revised, unsolicited, non-binding proposal from Arkhouse Management Co. LP (“Arkhouse”) and Brigade Capital Management, LP (“Brigade”) to acquire all of the outstanding shares of the Company for $24.00 per share in cash.
The Macy’s, Inc. 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. The Macy’s, Inc. Board has a proven track record of evaluating a broad range of options to create shareholder value, is open-minded about the best path to achieve this objective and is committed to continuing to take actions that it believes are in the best interests of the Company and all Macy’s, Inc. shareholders.