Arkhouse has financing in place for a Macy's take-private, managing partner Kahane says
Publishing timestamp: 2024-01-25 17:59:51
Summary
The article discusses how Arkhouse has financing in place to take Macy's private at a bid of $5.8 billion. However, they have run into roadblocks without Macy's cooperation on due diligence. Macy's board rejected Arkhouse's offer and refused to enter into a non-disclosure agreement or permit diligence to move forward. The article mentions that Arkhouse may take further steps, including going directly to shareholders, and that their bid could be raised if Macy's management agrees to sign a mutual non-disclosure agreement.
Sentiment: MIXED
Tickers: M,
Keywords: business news, technology, retail industry, breaking news: business, breaking news: markets, business, breaking news, markets, macy's inc,
Source: https://www.cnbc.com/2024/01/25/arkhouse-macys-take-private-financing-is-in-place-kahane-says.html