Arkhouse bid for Macy's nears diligence, but activist to continue proxy fight
Publishing timestamp: 2024-03-14 11:35:22
Summary
Arkhouse and Macy's are closer to a potential deal, with Arkhouse upping its bid to take Macy's private at $24 per share. Macy's management agreed to proceed with due diligence pending a confidentiality agreement, but the activist group plans to continue its proxy fight. Macy's board was surprised by the increased bid and negotiations are ongoing. In other news, these 10 companies are buying Nvidia's chips and their stocks are rallying. Warren Buffett emphasizes the importance of a margin of safety in investment success.
Sentiment: MIXED
Tickers: M,
Keywords: macy's inc, breaking news, activism, business news, mergers and acquisitions, breaking news: business, business,