In a bid to acquire Macy's, Arkhouse Management and Brigade Capital Management have revised their buyout proposal, escalating the offer to $24 per share, amounting to a total valuation of $6.

Arkhouse and Brigade raise Macy's buyout offer to $6.6 billion, pressing for board's attention

In a decisive move, Macy’s has rebuffed the $5.8 billion proposal from Arkhouse Management and Brigade Capital Management to take the retail giant private. The bid, which aimed to acquire the shares Macy’s doesn’t already own at $21 per share, was rejected on Sunday.

Macy’s rejects $5.8 bn takeover bid from Arkhouse, citing financing & valuation concerns

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