Investors raise Macy’s buyout bid – WSJ

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Arkhouse Management and Brigade Capital Management are now offering to acquire the Macy’s stock they don’t already own for $24 per share, or $6.6 billion, the report said, citing people familiar with the matter.

The two investment firms had submitted a proposal in December last year to acquire the shares of Macy’s they don’t already own for $21 a share but the offer was rejected by the department store operator due to concerns over the deal’s financing and valuation.

Macy’s and the two investment firms did not immediately respond to a Reuters’ request for comment on the report.