05.07.2024 14:55:23 - dpa-AFX: Macy's Rises In Pre-market After Arkhouse And Brigade Capital Raise Offer Price To Acquire Co.
WASHINGTON (dpa-AFX) - Shares of department store chain Macy's, Inc. (M)
were rising more than 7 percent in pre-market on Friday to $19.35, after the
Wall Street Journal reported that Arkhouse and Brigade Capital who wish to
acquire the company increased their bid price.
Arkhouse and Brigade Capital currently proposes to acquire Macy's stock that
they already do to not own for $24.80 per share, up from $24 per share offered
in March, the report said citing people familiar with the matter.
Macy's shares had closed at $17.93, up 0.62 percent on Wednesday. The stock has
traded in the range of $10.54 - $22.10 in the last 1 year.
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