Arkhouse and Brigade up Macy’s Takeover Offer to $6.6 Billion Following Rejection of Previous Deal

Shoppers enter a Macy's department store in Bay Shore, Long Island, New York on Dec. 12, 2023. Ted Shaffrey/AP Photo

NEW YORK—Arkhouse Management and Brigade Capital Management are upping their offer to acquire Macy’s in a deal now valued at $6.6 billion.

The investment firms announced Sunday that they had submitted an all-cash proposal of $24 for each of the remaining shares in Macy’s they don’t already own—up from an earlier offer of $21 per share.