Macy’s Rejects $5.8B Takeover Bid From Arkhouse Management, Brigade Capital Management

A shopper exits Macy's at the Woodfield Old Orchard Shopping Center in Skokie, Ill., on Feb. 19, 2022. Nam Y. Huh/AP Photo

Macy’s is rejecting a $5.8 billion takeover offer from investment firms Arkhouse Management and Brigade Capital Management, saying they didn’t provide a viable financing plan.

Arkhouse and Brigade offered $21 per share for the stock they don’t already own.