Could Macy's be bought?

The Macy's flagship store in the Herald Square area of New YorK. Shares of the stock are up sharply on a report oa $5.8 billion offer for the company. Shares of Macy’s soared more than 17% early Monday on a Wall Street Journal report that the iconic 165-year old retailer closely associated with the holiday season might itself be bought.

Does Macy's have a buyout offer?

Macy’s Inc. has received a $5.8 billion buyout offer from Arkhouse Management and Brigade Capital Management, according to people with knowledge of the matter. The investors offered $21 a share for the department store operator, the people said, asking not to be identified as the deal hasn’t been publicly announced.

Why did Macy's get a higher buyout offer?

Updated on: March 4, 2024 / 8:51 AM EST / CBS News Macy's has received a higher buyout offer from two investment firms, Arkhouse Management and Brigade Capital Management, weeks after the department store chain rejected their prior takeover bid by saying it had a "lack of compelling value." Shares of Macy's rose 3.4% in premarket trading.