Macy's shares surge after buyout bid raised to $24.80 per share.
Sectors & Industries
July 12, 2024
Macy's shares surged over 12% on July 5th after Arkhouse Management and Brigade Capital Management raised their buyout offer to $24.80 per share, up from $24.
However, Macy's new CEO, Tony Spring, remains confident in the company's public turnaround strategy and believes his plan is beginning to yield positive results.
The coming weeks will be crucial as Macy's weighs its options.
The outcome of this saga will be closely watched by the retail industry, with implications for department stores grappling with similar challenges.
"Macy’s buyout bid increased by investor group again" was originally created and published by Retail Insight Network, a GlobalData owned brand.
Join LevelFields now to be the first to know about events that affect stock prices and uncover unique investment opportunities. Choose from events, view price reactions, and set event alerts with our AI-powered platform. Don't miss out on daily opportunities from 6,300 companies monitored 24/7. Act on facts, not opinions, and let LevelFields help you become a better trader.