Macy's settles proxy fight with activist Arkhouse, adds two directors
Publishing timestamp: 2024-04-10 12:05:21
Summary
Macy's settles proxy fight with Arkhouse, adds two new directors to board. The department store is in negotiations with Arkhouse about a possible sale that would take Macy's private. The new directors will be part of the committee reviewing Arkhouse's bid to buy the company. Macy's shares fell around 2% in early trading. Macy's has struggled in recent years due to the shift to online shopping and has announced store closures and layoffs. Arkhouse's bid to take the company private differs from past activist engagements.
Sentiment: NEUTRAL
Keywords: business, breaking news, macy's inc, breaking news: business, business news, mergers and acquisitions, real estate, apparel retail, activism, retail industry, five below inc,